QuantumScape (NYSE:QS) Announces Quarterly Earnings Results

QuantumScape (NYSE:QS - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.20) EPS for the quarter, meeting analysts' consensus estimates of ($0.20), Zacks reports. The firm had revenue of $36.67 million for the quarter. During the same quarter in the previous year, the company earned ($0.25) earnings per share.

QuantumScape Price Performance

Shares of NYSE QS traded down $0.70 during mid-day trading on Friday, reaching $11.94. The company's stock had a trading volume of 57,572,051 shares, compared to its average volume of 67,467,776. The firm has a market capitalization of $6.67 billion, a PE ratio of -13.88 and a beta of 4.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.66 and a quick ratio of 16.66. The stock has a fifty day moving average of $6.66 and a two-hundred day moving average of $5.26. QuantumScape has a 52 week low of $3.40 and a 52 week high of $15.03.

Insider Transactions at QuantumScape

In related news, CTO Timothy Holme sold 358,330 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $7.03, for a total value of $2,519,059.90. Following the sale, the chief technology officer directly owned 1,705,428 shares in the company, valued at approximately $11,989,158.84. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mohit Singh sold 465,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total value of $3,817,650.00. Following the completion of the sale, the insider owned 1,641,711 shares in the company, valued at $13,478,447.31. This represents a 22.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,589,468 shares of company stock valued at $29,734,411 over the last 90 days. Company insiders own 12.03% of the company's stock.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QS. NewEdge Advisors LLC raised its holdings in shares of QuantumScape by 50.4% in the first quarter. NewEdge Advisors LLC now owns 21,224 shares of the company's stock worth $88,000 after buying an additional 7,111 shares during the period. AQR Capital Management LLC purchased a new stake in shares of QuantumScape in the first quarter worth approximately $321,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of QuantumScape by 456.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock worth $19,799,000 after buying an additional 3,904,168 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. TD Cowen upgraded QuantumScape to a "hold" rating in a research report on Monday, July 7th. The Goldman Sachs Group reduced their price objective on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Finally, Robert W. Baird increased their price objective on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $5.90.

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.