QuantumScape Co. (NYSE:QS) Insider Michael O. Mccarthy III Sells 130,648 Shares

QuantumScape Co. (NYSE:QS – Get Rating) insider Michael O. Mccarthy III sold 130,648 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $9.05, for a total value of $1,182,364.40. Following the completion of the transaction, the insider now owns 725,340 shares in the company, valued at $6,564,327. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

QuantumScape Stock Up 3.6 %

NYSE:QS opened at $9.20 on Friday. The company has a quick ratio of 25.68, a current ratio of 22.91 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $8.05 and its two-hundred day moving average is $8.39. QuantumScape Co. has a 52 week low of $5.11 and a 52 week high of $22.21. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -9.68 and a beta of 5.29.

QuantumScape (NYSE:QS – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.02. During the same period last year, the firm earned ($0.16) earnings per share. Research analysts anticipate that QuantumScape Co. will post -0.9 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. The Goldman Sachs Group cut QuantumScape from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $8.00 to $5.00 in a report on Wednesday, December 14th. Morgan Stanley decreased their price target on QuantumScape from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 25th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.20.

Institutional Trading of QuantumScape

Several hedge funds have recently modified their holdings of the stock. Robertson Stephens Wealth Management LLC raised its stake in shares of QuantumScape by 0.6% in the second quarter. Robertson Stephens Wealth Management LLC now owns 210,875 shares of the company’s stock valued at $1,811,000 after acquiring an additional 1,200 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of QuantumScape by 10.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 12,600 shares of the company’s stock valued at $71,000 after acquiring an additional 1,225 shares in the last quarter. ETF Managers Group LLC raised its stake in shares of QuantumScape by 4.0% in the third quarter. ETF Managers Group LLC now owns 34,276 shares of the company’s stock valued at $288,000 after acquiring an additional 1,329 shares in the last quarter. Principal Financial Group Inc. increased its holdings in QuantumScape by 5.6% in the second quarter. Principal Financial Group Inc. now owns 25,378 shares of the company’s stock valued at $218,000 after buying an additional 1,346 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in QuantumScape by 1.4% in the third quarter. Private Advisor Group LLC now owns 105,455 shares of the company’s stock valued at $887,000 after buying an additional 1,459 shares during the last quarter. 26.09% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Company Profile

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QuantumScape Corporation, a 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.