Michael O. Mccarthy III Sells 22,554 Shares of QuantumScape Co. (NYSE:QS) Stock

QuantumScape Co. (NYSE:QS) insider Michael O. Mccarthy III sold 22,554 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total transaction of $129,008.88. Following the transaction, the insider now directly owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

QuantumScape Stock Performance

Shares of QS opened at $5.78 on Thursday. The company has a 50-day simple moving average of $5.74 and a 200-day simple moving average of $6.40. The company has a quick ratio of 10.38, a current ratio of 10.38 and a debt-to-equity ratio of 0.03. QuantumScape Co. has a 52 week low of $4.92 and a 52 week high of $13.86.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). On average, equities research analysts forecast that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Truist Financial cut their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Finally, UBS Group cut their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, QuantumScape has a consensus rating of “Hold” and a consensus target price of $6.09.

Institutional Trading of QuantumScape

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QS. Vanguard Group Inc. increased its stake in QuantumScape by 23.3% in the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock valued at $194,221,000 after acquiring an additional 5,483,319 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after buying an additional 3,004,964 shares during the last quarter. Norges Bank bought a new stake in QuantumScape during the fourth quarter worth about $18,482,000. Baillie Gifford & Co. grew its stake in QuantumScape by 53.6% during the third quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock worth $17,268,000 after buying an additional 900,249 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in QuantumScape during the fourth quarter worth about $1,560,000. Institutional investors own 29.87% of the company’s stock.

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.