QuantumScape (NYSE:QS) Shares Up 2.7%

QuantumScape Co. (NYSE:QS) traded up 2.7% on Wednesday . The company traded as high as $4.99 and last traded at $4.96. 1,120,266 shares traded hands 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 Analysts Forecast Growth

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

QuantumScape Price Performance

The stock has a market cap of $2.53 billion, a P/E ratio of -5.17 and a beta of 4.62. The firm has a 50-day moving average price of $5.47 and a 200-day moving average price of $6.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, April 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). On average, analysts forecast that QuantumScape Co. will post -0.89 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In related 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 stock was sold at an average price of $5.72, for a total transaction of $129,008.88. Following the completion of the transaction, the insider now owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related 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 stock was sold at an average price of $5.72, for a total transaction of $129,008.88. Following the completion of the transaction, the insider now owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jagdeep Singh sold 192,280 shares of QuantumScape stock in a transaction on Friday, May 31st. The stock was 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 of the company’s stock, valued at approximately $16,434,130.05. The disclosure for this sale can be found here. Insiders sold a total of 490,859 shares of company stock valued at $2,768,719 in the last 90 days. 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 increased its holdings in shares of QuantumScape by 39.0% in the 4th 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 increased its holdings in shares of QuantumScape by 595.1% in the 4th 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. Tower Research Capital LLC TRC increased its holdings in shares of QuantumScape by 57.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock worth $56,000 after purchasing an additional 2,954 shares in the last quarter. StepStone Group LP purchased a new position in shares of QuantumScape in the 4th quarter worth $56,000. Finally, Evergreen Wealth Solutions LLC purchased a new position in shares of QuantumScape in the 1st quarter worth $64,000. Institutional investors own 29.87% of the company’s stock.

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.