QuantumScape (NYSE:QS) CTO Timothy Holme Sells 166,442 Shares

Key Points

• QuantumScape's CTO, Timothy Holme, sold 166,442 shares of the company's stock on October 3rd for a total of $2.58 million, reducing his position by 10.87%.
• The company's stock price reached $15.91 during trading on the same day, reflecting significant activity with a trading volume of 76.2 million shares.
• QuantumScape has a market capitalization of $9.01 billion and is focused on developing solid-state lithium-metal batteries for electric vehicles.

QuantumScape Corporation (NYSE:QS - Get Free Report) CTO Timothy Holme sold 166,442 shares of the firm's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $15.52, for a total value of $2,583,179.84. Following the transaction, the chief technology officer owned 1,364,273 shares in the company, valued at approximately $21,173,516.96. This trade represents a 10.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, October 3rd, Timothy Holme sold 44,923 shares of QuantumScape stock. The stock was sold at an average price of $15.52, for a total value of $697,204.96.
• On Monday, September 8th, Timothy Holme sold 6,362 shares of QuantumScape stock. The stock was sold at an average price of $9.63, for a total value of $61,266.06.
• On Monday, September 8th, Timothy Holme sold 23,244 shares of QuantumScape stock. The stock was sold at an average price of $9.63, for a total value of $223,839.72.
• On Thursday, September 4th, Timothy Holme sold 38,561 shares of QuantumScape stock. The stock was sold at an average price of $7.55, for a total value of $291,135.55.
• On Thursday, September 4th, Timothy Holme sold 176,352 shares of QuantumScape stock. The stock was sold at an average price of $7.55, for a total value of $1,331,457.60.
• 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 value 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 value of $305,370.00.

QuantumScape Price Performance

Shares of QS stock traded up $1.61 during trading hours on Friday, reaching $15.91. The company's stock had a trading volume of 76,229,660 shares, compared to its average volume of 48,564,152. The firm's 50 day simple moving average is $9.81 and its 200-day simple moving average is $6.94. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of -18.50 and a beta of 4.85. QuantumScape Corporation has a fifty-two week low of $3.40 and a fifty-two week high of $16.49. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same quarter in the previous year, the company posted ($0.25) earnings per share. Sell-side analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of QuantumScape in a report on Saturday, September 27th. Robert W. Baird raised their price objective on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, TD Cowen raised QuantumScape to a "hold" rating in a report on Monday, July 7th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $5.88.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. M&T Bank Corp increased its stake in QuantumScape by 97.2% in the 1st quarter. M&T Bank Corp now owns 39,964 shares of the company's stock worth $166,000 after purchasing an additional 19,694 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in QuantumScape by 362.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock worth $1,577,000 after purchasing an additional 297,097 shares in the last quarter. Nuveen LLC purchased a new position in QuantumScape in the 1st quarter worth about $2,819,000. Perbak Capital Partners LLP purchased a new position in QuantumScape in the 1st quarter worth about $353,000. Finally, CacheTech Inc. purchased a new position in QuantumScape in the 1st quarter worth about $130,000. 29.87% of the stock is owned by institutional investors and hedge funds.

About QuantumScape

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.

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