QuantumScape (NYSE:QS) Shares Up 0.7%

Shares of QuantumScape Co. (NYSE:QS) shot up 0.7% on Thursday . The company traded as high as $5.61 and last traded at $5.60. 1,617,421 shares were traded during mid-day trading, a decline of 83% from the average session volume of 9,442,639 shares. The stock had previously closed at $5.56.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QS. Robert W. Baird lifted their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a report 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 note on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.71.

QuantumScape Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98. The stock’s 50 day moving average price is $6.13 and its two-hundred day moving average price is $6.45.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period last year, the business earned ($0.25) EPS. As a group, equities research analysts expect that QuantumScape Co. will post -0.87 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total value of $212,486.98. Following the sale, the chief financial officer now directly owns 1,178,512 shares of the company’s stock, valued at approximately $7,236,063.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Jeffrey B. Straubel sold 69,309 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the transaction, the director now directly owns 292,644 shares in the company, valued at approximately $1,966,567.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $6.14, for a total transaction of $212,486.98. Following the transaction, the chief financial officer now owns 1,178,512 shares in the company, valued at $7,236,063.68. The disclosure for this sale can be found here. Insiders have sold a total of 194,970 shares of company stock valued at $1,250,775 in the last ninety days. 10.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in QuantumScape by 23.3% in the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock valued at $194,221,000 after acquiring an additional 5,483,319 shares in the last quarter. Norges Bank acquired a new stake in shares of QuantumScape during the fourth quarter worth approximately $18,482,000. Morgan Stanley grew its position in shares of QuantumScape by 52.1% during the third quarter. Morgan Stanley now owns 4,310,857 shares of the company’s stock worth $28,840,000 after buying an additional 1,476,799 shares in the last quarter. BlackRock Inc. grew its position in shares of QuantumScape by 9.7% during the second quarter. BlackRock Inc. now owns 13,035,638 shares of the company’s stock worth $104,155,000 after buying an additional 1,148,137 shares in the last quarter. Finally, Baillie Gifford & Co. grew its position in shares of QuantumScape by 53.6% during the third quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock worth $17,268,000 after buying an additional 900,249 shares in the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.