QuantumScape (NYSE:QS) Trading 1.1% Higher

QuantumScape Co. (NYSE:QS)’s stock price traded up 1.1% during trading on Thursday . The company traded as high as $6.45 and last traded at $6.29. 2,627,415 shares were traded during trading, a decline of 74% from the average session volume of 10,125,095 shares. The stock had previously closed at $6.22.

Analyst Upgrades and Downgrades

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

QuantumScape Stock Up 1.1 %

The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $6.50 and a two-hundred day moving average of $6.54. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -6.55 and a beta of 4.80.

QuantumScape (NYSE:QS) last announced 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 quarter in the prior year, the company posted ($0.25) earnings per share. As a group, sell-side analysts anticipate that QuantumScape Co. will post -0.87 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $6.51, for a total transaction of $225,291.57. Following the completion of the transaction, the chief financial officer now owns 575,936 shares of the company’s stock, valued at $3,749,343.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were 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 directly owns 575,936 shares in the company, valued at $3,749,343.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $6.17, for a total value of $134,752.80. Following the completion of the sale, the insider now directly owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The disclosure for this sale can be found here. Insiders have sold 478,279 shares of company stock worth $3,584,735 over the last ninety days. Insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

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