QuantumScape (NYSE:QS) Posts Earnings Results, Misses Expectations By $0.03 EPS

QuantumScape (NYSE:QS) issued its quarterly earnings data on Wednesday. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03), Briefing.com reports. During the same period in the previous year, the company earned ($0.26) EPS.

QuantumScape Stock Performance

Shares of NYSE QS traded up $0.16 during midday trading on Friday, reaching $7.04. 11,036,596 shares of the stock were exchanged, compared to its average volume of 18,392,644. QuantumScape has a 12 month low of $4.67 and a 12 month high of $13.86. The company has a current ratio of 10.38, a quick ratio of 10.38 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $5.99 and a two-hundred day simple moving average of $6.18.

Analysts Set New Price Targets

A number of research firms have issued reports on QS. Truist Financial cut their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. UBS Group reduced their price objective on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.45.

Insider Buying and Selling

In other QuantumScape news, insider Michael O. Mccarthy III sold 22,554 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the completion of the transaction, the insider now directly owns 1,207,500 shares of the company’s stock, valued at $6,906,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QuantumScape news, insider Michael O. Mccarthy III sold 22,554 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total transaction of $129,008.88. Following the sale, the insider now directly owns 1,207,500 shares in the company, valued at approximately $6,906,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fritz Prinz sold 25,816 shares of QuantumScape stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.87, for a total transaction of $125,723.92. Following the completion of the transaction, the director now directly owns 267,011 shares in the company, valued at approximately $1,300,343.57. The disclosure for this sale can be found here. In the last quarter, insiders have sold 847,562 shares of company stock valued at $4,869,703. 10.18% of the stock is owned by company insiders.

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.