QuantumScape (NYSE:QS) Trading 2.7% Higher

QuantumScape Co. (NYSE:QS) shot up 2.7% during trading on Wednesday . The company traded as high as $4.99 and last traded at $4.96. 1,120,266 shares were traded during mid-day trading, a decline of 86% from the average session volume of 7,882,563 shares. The stock had previously closed at $4.83.

Wall Street Analyst Weigh In

A number of research firms recently commented on QS. Truist Financial dropped their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. UBS Group cut their price target on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.67.

QuantumScape Price Performance

The stock’s 50-day moving average is $5.47 and its 200 day moving average is $6.21. The stock has a market capitalization of $2.53 billion, a PE ratio of -5.17 and a beta of 4.62. 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 (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). As a group, equities analysts predict that QuantumScape Co. will post -0.89 earnings per share for the current year.

Insider Activity at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 45,848 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $5.61, for a total value of $257,207.28. Following the completion of the sale, the chief financial officer now directly owns 1,145,821 shares of the company’s stock, valued at $6,428,055.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jagdeep Singh sold 192,280 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $5.85, for a total value of $1,124,838.00. Following the completion of the sale, the director now directly owns 2,809,253 shares in the company, valued at $16,434,130.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Hettrich sold 45,848 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $5.61, for a total transaction of $257,207.28. Following the completion of the sale, the chief financial officer now owns 1,145,821 shares of the company’s stock, valued at $6,428,055.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 490,859 shares of company stock valued at $2,768,719. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

A number of institutional investors and hedge funds have recently modified their holdings of QS. Spire Wealth Management lifted its stake in shares of 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 buying an additional 1,500 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of 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 buying an additional 5,296 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of QuantumScape by 57.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock worth $56,000 after buying an additional 2,954 shares during the last quarter. StepStone Group LP acquired a new position in QuantumScape during the 4th quarter valued at $56,000. Finally, Evergreen Wealth Solutions LLC acquired a new position in QuantumScape during the 1st quarter valued at $64,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.