QuantumScape (NYSE:QS) Shares Up 0.7% – Here’s What Happened

QuantumScape Co. (NYSE:QS) shares were up 0.7% during mid-day trading on Wednesday . The stock traded as high as $5.51 and last traded at $5.49. Approximately 3,061,770 shares traded hands during trading, a decline of 65% from the average daily volume of 8,678,846 shares. The stock had previously closed at $5.45.

Analyst Ratings Changes

A number of research firms recently commented on QS. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Finally, Truist Financial reiterated a “hold” rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.14.

QuantumScape Price Performance

The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -5.78 and a beta of 4.58. The stock’s 50-day simple moving average is $5.68 and its two-hundred day simple moving average is $5.80.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the previous year, the business earned ($0.23) earnings per share. Equities research analysts predict that QuantumScape Co. will post -0.9 earnings per share for the current year.

Insider Buying and Selling at QuantumScape

In other news, CTO Timothy Holme sold 44,306 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total value of $270,709.66. Following the sale, the chief technology officer now directly owns 1,168,496 shares of the company’s stock, valued at approximately $7,139,510.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other QuantumScape news, CTO Timothy Holme sold 44,306 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total transaction of $270,709.66. Following the sale, the chief technology officer now directly owns 1,168,496 shares in the company, valued at $7,139,510.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jurgen Leohold sold 17,435 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.00, for a total transaction of $104,610.00. Following the completion of the transaction, the director now directly owns 194,904 shares of the company’s stock, valued at approximately $1,169,424. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 903,591 shares of company stock valued at $5,195,582 over the last 90 days. 12.03% of the stock is owned by insiders.

Hedge Funds Weigh In On QuantumScape

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in QuantumScape by 240.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after buying an additional 3,004,964 shares during the last quarter. Vanguard Group Inc. raised its position in shares of QuantumScape by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock worth $207,306,000 after acquiring an additional 796,723 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in QuantumScape during the second quarter worth approximately $1,950,000. American Century Companies Inc. increased its stake in QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of QuantumScape by 10.3% during the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock worth $16,854,000 after buying an additional 251,186 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.