Key Points
- QuantumScape insider Michael McCarthy III sold 36,415 shares at an average of $11.60 for a total of $422,414, cutting his stake by 20.89% to 137,888 shares (about $1.6M) — the sale was disclosed in an SEC filing.
- Shares opened at $12.10 (12‑month range $3.40–$19.07) with a $7.27B market cap and negative earnings (last quarter EPS -$0.18; FY est. -$0.82), while analysts' consensus is a "Reduce" rating with an average target of $8.81.
QuantumScape Corporation (NYSE:QS - Get Free Report) insider Michael Mccarthy III sold 36,415 shares of the business's stock in a transaction on Monday, November 24th. The shares were sold at an average price of $11.60, for a total transaction of $422,414.00. Following the completion of the sale, the insider owned 137,888 shares in the company, valued at $1,599,500.80. This represents a 20.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
QuantumScape Trading Up 2.0%
Shares of QuantumScape stock opened at $12.10 on Thursday. QuantumScape Corporation has a 12-month low of $3.40 and a 12-month high of $19.07. The stock has a market capitalization of $7.27 billion, a P/E ratio of -14.93 and a beta of 4.83. The company has a 50-day simple moving average of $14.59 and a 200 day simple moving average of $9.90. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02.
QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). During the same quarter in the prior year, the firm earned ($0.23) EPS. Research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.
Institutional Investors Weigh In On QuantumScape
A number of institutional investors have recently made changes to their positions in QS. VSM Wealth Advisory LLC lifted its stake in QuantumScape by 46.8% in the third quarter. VSM Wealth Advisory LLC now owns 2,352 shares of the company's stock valued at $29,000 after buying an additional 750 shares during the period. Vontobel Holding Ltd. increased its stake in shares of QuantumScape by 0.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 120,753 shares of the company's stock valued at $1,488,000 after acquiring an additional 810 shares during the last quarter. Wedmont Private Capital raised its position in shares of QuantumScape by 5.7% in the 3rd quarter. Wedmont Private Capital now owns 15,115 shares of the company's stock valued at $186,000 after acquiring an additional 815 shares during the period. Coldstream Capital Management Inc. boosted its stake in QuantumScape by 8.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company's stock worth $153,000 after acquiring an additional 939 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in QuantumScape by 67.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company's stock worth $31,000 after acquiring an additional 1,005 shares during the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Cowen restated a "hold" rating on shares of QuantumScape in a research note on Thursday, October 30th. Evercore ISI reissued an "in-line" rating and set a $12.00 price target (up from $8.00) on shares of QuantumScape in a research note on Monday. TD Cowen increased their price objective on QuantumScape from $5.00 to $16.00 and gave the company a "hold" rating in a research report on Thursday, October 30th. Weiss Ratings restated a "sell (d-)" rating on shares of QuantumScape in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the company a "hold" rating in a research note on Thursday, October 23rd. Six analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, QuantumScape has an average rating of "Reduce" and an average target price of $8.81.
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QuantumScape Company Profile
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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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