Michael Mccarthy III Sells 20,435 Shares of QuantumScape (NYSE:QS) Stock

QuantumScape Corporation (NYSE:QS - Get Free Report) insider Michael Mccarthy III sold 20,435 shares of the firm's stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $16.12, for a total value of $329,412.20. Following the completion of the transaction, the insider owned 137,888 shares of the company's stock, valued at approximately $2,222,754.56. The trade was a 12.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

QuantumScape Stock Down 7.7%

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QS stock traded down $1.23 during midday trading on Wednesday, hitting $14.68. The stock had a trading volume of 35,998,933 shares, compared to its average volume of 29,419,998. The business has a 50-day moving average of $13.79 and a two-hundred day moving average of $9.26. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of -18.13 and a beta of 4.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $19.07.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The business had revenue of ($36.67) million during the quarter. During the same period last year, the firm posted ($0.23) EPS. As a group, equities research analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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Several institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC lifted its position in QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after purchasing an additional 5,841 shares in the last quarter. Tsfg LLC boosted its stake in shares of QuantumScape by 233.3% in the third quarter. Tsfg LLC now owns 2,000 shares of the company's stock worth $25,000 after acquiring an additional 1,400 shares during the period. REAP Financial Group LLC boosted its stake in QuantumScape by 300.0% in the 3rd quarter. REAP Financial Group LLC now owns 2,000 shares of the company's stock worth $25,000 after purchasing an additional 1,500 shares during the period. Russell Investments Group Ltd. raised its position in shares of QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock valued at $25,000 after buying an additional 3,311 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after purchasing an additional 5,438 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Cowen reiterated a "hold" rating on shares of QuantumScape in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on shares of QuantumScape and gave the stock a "hold" rating in a report on Thursday, October 23rd. Weiss Ratings restated a "sell (d-)" rating on shares of QuantumScape in a report on Wednesday, October 8th. Robert W. Baird increased their target price on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, TD Cowen upped their price target on QuantumScape from $5.00 to $16.00 and gave the company a "hold" rating in a report on Thursday, October 30th. Eight research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $7.66.

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Read Our Latest Analysis on QuantumScape

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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