QuantumScape (NYSE:QS) Shares Up 2.3%

QuantumScape Co. (NYSE:QS)’s share price traded up 2.3% during mid-day trading on Tuesday . The stock traded as high as $8.19 and last traded at $8.13. 3,117,544 shares traded hands during trading, a decline of 67% from the average session volume of 9,357,156 shares. The stock had previously closed at $7.95.

Wall Street Analysts Forecast Growth

QS has been the topic of a number of analyst reports. Truist Financial cut their price target 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 cut their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and a consensus target price of $6.45.

QuantumScape Trading Up 0.5 %

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 moving average of $5.88 and a 200-day moving average of $6.18. The firm has a market capitalization of $3.99 billion, a P/E ratio of -8.47 and a beta of 4.62.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). Analysts anticipate that QuantumScape Co. will post -0.89 EPS for the current fiscal year.

Insider Activity at QuantumScape

In other news, CFO Kevin Hettrich sold 45,848 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $5.61, for a total transaction of $257,207.28. Following the completion of the transaction, the chief financial officer now directly owns 1,145,821 shares of the company’s stock, valued at approximately $6,428,055.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kevin Hettrich sold 45,848 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $5.61, for a total transaction of $257,207.28. Following the completion of the transaction, the chief financial officer now directly owns 1,145,821 shares in the company, valued at approximately $6,428,055.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mohit Singh sold 173,224 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $7.04, for a total value of $1,219,496.96. Following the completion of the transaction, the insider now owns 1,196,905 shares of the company’s stock, valued at approximately $8,426,211.20. 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 insiders.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently made changes to their positions in QS. Vanguard Group Inc. increased its holdings in QuantumScape by 23.3% during the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after buying an additional 5,483,319 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of QuantumScape by 240.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after purchasing an additional 3,004,964 shares during the period. Norges Bank acquired a new stake in QuantumScape in the 4th quarter valued at about $18,482,000. Baillie Gifford & Co. grew its holdings in QuantumScape by 10.3% during the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock worth $16,854,000 after purchasing an additional 251,186 shares during the period. Finally, Trexquant Investment LP acquired a new position in QuantumScape during the fourth quarter worth approximately $1,560,000. 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.