QuantumScape (NYSE:QS) Trading 4.2% Higher – Here’s What Happened

QuantumScape Corporation (NYSE:QS) shares were up 4.2% on Friday . The stock traded as high as $16.62 and last traded at $16.5720. Approximately 32,879,367 shares changed hands during trading, an increase of 12% from the average daily volume of 29,251,555 shares. The stock had previously closed at $15.90.

Analyst Ratings Changes

QS has been the topic of several analyst reports. TD Cowen increased their target price on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Cowen reaffirmed a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. Robert W. Baird lifted their target price on shares of QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price objective on QuantumScape and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Eight equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $7.66.

QuantumScape Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The stock has a market capitalization of $9.96 billion, a P/E ratio of -20.46 and a beta of 4.83. The stock’s fifty day moving average is $13.28 and its 200-day moving average is $8.93.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of ($36.67) million for the quarter. During the same period in the previous year, the business posted ($0.23) EPS. On average, equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Timothy Holme sold 176,352 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $7.55, for a total value of $1,331,457.60. Following the completion of the sale, the chief technology officer directly owned 1,445,304 shares in the company, valued at approximately $10,912,045.20. The trade was a 10.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 980,878 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $15.49, for a total transaction of $15,193,800.22. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,844,134 shares of company stock valued at $41,397,924. 5.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently made changes to their positions in QS. Signaturefd LLC boosted its position in shares of QuantumScape by 2,086.1% in the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock valued at $25,000 after acquiring an additional 5,841 shares during the period. Tsfg LLC boosted its holdings in QuantumScape by 233.3% in the 3rd quarter. Tsfg LLC now owns 2,000 shares of the company’s stock valued at $25,000 after purchasing an additional 1,400 shares during the period. REAP Financial Group LLC grew its position in QuantumScape by 300.0% in the 3rd quarter. REAP Financial Group LLC now owns 2,000 shares of the company’s stock worth $25,000 after purchasing an additional 1,500 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of QuantumScape by 685.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock worth $25,000 after purchasing an additional 3,311 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after buying an additional 5,438 shares during the last quarter. Institutional investors and hedge funds 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.