QuantumScape (NYSE:QS) Trading 2.1% Higher

QuantumScape Co. (NYSE:QS) shares traded up 2.1% on Monday . The company traded as high as $5.90 and last traded at $5.82. 1,499,025 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 9,080,685 shares. The stock had previously closed at $5.70.

Analyst Upgrades and Downgrades

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

QuantumScape Price Performance

The company has a fifty day simple moving average of $5.84 and a 200-day simple moving average of $6.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.38 and a quick ratio of 10.38. The company has a market cap of $2.89 billion, a P/E ratio of -6.07 and a beta of 4.74.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the prior year, the business earned ($0.25) EPS. On average, sell-side analysts predict that QuantumScape Co. will post -0.9 earnings per share for the current year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total transaction of $226,329.78. Following the sale, the chief financial officer now directly owns 554,553 shares of the company’s stock, valued at approximately $3,626,776.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares in the company, valued at approximately $4,514,150.93. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total transaction of $226,329.78. Following the transaction, the chief financial officer now owns 554,553 shares in the company, valued at $3,626,776.62. The disclosure for this sale can be found here. Insiders have sold a total of 125,661 shares of company stock valued at $785,018 in the last three months. 10.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Institutional investors and hedge funds have recently modified their holdings of the stock. Spire Wealth Management boosted its holdings in QuantumScape by 39.0% in the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in QuantumScape by 595.1% in the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after purchasing an additional 5,296 shares in the last quarter. C M Bidwell & Associates Ltd. boosted its holdings in QuantumScape by 37.3% in the third quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,835 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in QuantumScape by 57.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock valued at $56,000 after acquiring an additional 2,954 shares during the period. Finally, StepStone Group LP bought a new stake in QuantumScape during the fourth quarter valued at about $56,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.