QuantumScape (NYSE:QS) Stock Price Up 1.1%

QuantumScape Co. (NYSE:QS) shares rose 1.1% on Thursday . The stock traded as high as $6.45 and last traded at $6.29. Approximately 2,627,415 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 10,125,095 shares. The stock had previously closed at $6.22.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. HSBC initiated coverage on shares of QuantumScape in a research report on Monday, December 4th. They set a “reduce” rating and a $4.70 target price on the stock. Robert W. Baird raised their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. William Blair began coverage on shares of QuantumScape in a research note on Monday, December 18th. They issued a “market perform” rating on the stock. Finally, Truist Financial lifted their price objective on QuantumScape from $7.00 to $8.00 and gave the company a “hold” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.71.

QuantumScape Stock Performance

The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -6.55 and a beta of 4.80. The stock’s 50-day simple moving average is $6.50 and its 200 day simple moving average is $6.54. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period last year, the company posted ($0.25) earnings per share. Analysts expect that QuantumScape Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $6.51, for a total transaction of $225,291.57. Following the transaction, the chief financial officer now owns 575,936 shares in the company, valued at approximately $3,749,343.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Mohit Singh sold 174,000 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $8.58, for a total transaction of $1,492,920.00. Following the transaction, the insider now owns 642,481 shares of the company’s stock, valued at $5,512,486.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $6.51, for a total value of $225,291.57. Following the completion of the sale, the chief financial officer now owns 575,936 shares of the company’s stock, valued at $3,749,343.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 478,279 shares of company stock worth $3,584,735. 10.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in shares of QuantumScape by 10.3% during the first quarter. Bank of New York Mellon Corp now owns 778,770 shares of the company’s stock worth $15,569,000 after buying an additional 72,570 shares during the last quarter. US Bancorp DE grew its holdings in QuantumScape by 78.5% during the 1st quarter. US Bancorp DE now owns 11,310 shares of the company’s stock worth $226,000 after acquiring an additional 4,975 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of QuantumScape by 14.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 65,502 shares of the company’s stock valued at $1,309,000 after acquiring an additional 8,253 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of QuantumScape by 18.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 20,611 shares of the company’s stock valued at $412,000 after purchasing an additional 3,253 shares during the period. Finally, Citigroup Inc. boosted its position in shares of QuantumScape by 10.4% in the 1st quarter. Citigroup Inc. now owns 88,582 shares of the company’s stock worth $1,771,000 after purchasing an additional 8,342 shares during the last quarter. 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.