QuantumScape Corporation (NYSE:QS) CTO Sells $2,519,059.90 in Stock

QuantumScape Corporation (NYSE:QS - Get Free Report) CTO Timothy Holme sold 358,330 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $7.03, for a total transaction of $2,519,059.90. Following the completion of the transaction, the chief technology officer owned 1,705,428 shares of the company's stock, valued at approximately $11,989,158.84. This trade represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Timothy Holme also recently made the following trade(s):

• On Monday, July 7th, Timothy Holme sold 11,906 shares of QuantumScape stock. The shares were sold at an average price of $7.02, for a total transaction of $83,580.12.
• On Monday, July 7th, Timothy Holme sold 43,500 shares of QuantumScape stock. The shares were sold at an average price of $7.02, for a total transaction of $305,370.00.
• On Thursday, July 3rd, Timothy Holme sold 98,073 shares of QuantumScape stock. The stock was sold at an average price of $7.03, for a total transaction of $689,453.19.

QuantumScape Stock Up 8.6%

NYSE QS traded up $0.72 on Thursday, hitting $9.08. 52,062,095 shares of the company were exchanged, compared to its average volume of 14,805,587. The company has a market cap of $5.07 billion, a PE ratio of -9.97 and a beta of 4.42. QuantumScape Corporation has a 12 month low of $3.40 and a 12 month high of $9.52. The stock has a fifty day moving average of $4.80 and a 200-day moving average of $4.75. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period last year, the company earned ($0.24) EPS. As a group, analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of QuantumScape by 22.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,881 shares of the company's stock valued at $245,000 after buying an additional 6,413 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of QuantumScape by 91.4% in the second quarter. Parallel Advisors LLC now owns 11,083 shares of the company's stock valued at $74,000 after buying an additional 5,292 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of QuantumScape by 456.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock valued at $19,799,000 after buying an additional 3,904,168 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of QuantumScape by 50.4% in the first quarter. NewEdge Advisors LLC now owns 21,224 shares of the company's stock valued at $88,000 after buying an additional 7,111 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of QuantumScape by 21.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961,052 shares of the company's stock valued at $3,998,000 after buying an additional 170,173 shares in the last quarter. 29.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on QS shares. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research report on Monday. Robert W. Baird decreased their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $5.00 to $2.50 in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, April 28th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, QuantumScape currently has a consensus rating of "Hold" and a consensus target price of $5.19.

QuantumScape Company Profile

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.