QuantumScape (NYSE:QS) Sees Strong Trading Volume

Shares of QuantumScape Co. (NYSE:QS) saw unusually-high trading volume on Friday . Approximately 5,479,215 shares were traded during trading, a decline of 35% from the previous session’s volume of 8,385,652 shares.The stock last traded at $7.47 and had previously closed at $7.06.

Wall Street Analysts Forecast Growth

QS has been the subject of a number of recent analyst reports. Truist Financial reduced their price objective 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 target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.67.

QuantumScape Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38. The business’s fifty day simple moving average is $5.47 and its 200-day simple moving average is $6.14. The firm has a market capitalization of $4.03 billion, a PE ratio of -8.32 and a beta of 4.62.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). As a group, equities research analysts expect that QuantumScape Co. will post -0.89 EPS for the current year.

Insider Activity at QuantumScape

In related news, Director Jagdeep Singh sold 192,280 shares of the firm’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 transaction, the director now directly owns 2,809,253 shares of the company’s stock, valued at $16,434,130.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Kevin Hettrich sold 45,848 shares of QuantumScape 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 directly owns 1,145,821 shares in the company, valued at $6,428,055.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 sale, the director now owns 2,809,253 shares of the company’s stock, valued at $16,434,130.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 674,338 shares of company stock valued at $3,650,206. 10.18% of the stock is owned by corporate insiders.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently made changes to their positions in QS. Citigroup Inc. raised its holdings in shares of QuantumScape by 97.7% in the third quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after acquiring an additional 51,934 shares in the last quarter. Vanguard Group Inc. raised its holdings in QuantumScape by 23.3% in the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after purchasing an additional 5,483,319 shares in the last quarter. DNB Asset Management AS bought a new position in QuantumScape in the fourth quarter worth about $208,000. Baron Wealth Management LLC raised its holdings in QuantumScape by 19.1% in the fourth quarter. Baron Wealth Management LLC now owns 12,446 shares of the company’s stock worth $86,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Whittier Trust Co. bought a new position in QuantumScape in the fourth quarter worth about $326,000. 29.87% of the stock is currently owned by institutional investors.

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.