QuantumScape (NYSE:QS) Announces Earnings Results, Misses Estimates By $0.01 EPS

QuantumScape (NYSE:QS) released its quarterly earnings data on Wednesday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01), Zacks reports.

QuantumScape Price Performance

QS stock traded up $0.08 during trading on Wednesday, hitting $4.84. The stock had a trading volume of 21,125,258 shares, compared to its average volume of 15,432,533. QuantumScape has a 1-year low of $4.65 and a 1-year high of $9.52. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -5.09 and a beta of 4.45. The company’s 50 day moving average price is $5.26 and its two-hundred day moving average price is $5.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

Insiders Place Their Bets

In related news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the transaction, the director now directly owns 241,195 shares in the company, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now directly owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 573,409 shares of company stock valued at $3,090,581 in the last ninety days. Insiders own 12.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Truist Financial restated a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.26.

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.