QuantumScape (NYSE:QS - Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20), Zacks reports. During the same quarter in the previous year, the business earned ($0.25) earnings per share.
QuantumScape Price Performance
Shares of QS traded down $0.17 during trading hours on Thursday, hitting $12.67. 53,551,581 shares of the stock were exchanged, compared to its average volume of 22,924,826. The stock's 50-day moving average price is $6.35 and its two-hundred day moving average price is $5.18. QuantumScape has a 12-month low of $3.40 and a 12-month high of $15.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. The company has a market cap of $7.08 billion, a price-to-earnings ratio of -13.92 and a beta of 4.42.
Wall Street Analyst Weigh In
A number of analysts recently commented on QS shares. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. TD Cowen raised QuantumScape to a "hold" rating in a research report on Monday, July 7th. The Goldman Sachs Group decreased their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a report on Monday, April 28th. Finally, Robert W. Baird lifted their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.90.
Check Out Our Latest Research Report on QS
Insider Transactions at QuantumScape
In other news, insider Mohit Singh sold 465,000 shares of the company's stock in a transaction that occurred on 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Fritz Prinz sold 864,708 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $7.02, for a total value of $6,070,250.16. Following the completion of the sale, the director directly owned 81,364 shares of the company's stock, valued at $571,175.28. This trade represents a 91.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,589,468 shares of company stock valued at $18,114,411 over the last 90 days. 12.03% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On QuantumScape
A number of institutional investors have recently made changes to their positions in QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in QuantumScape by 456.5% during the 1st 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 purchasing an additional 3,904,168 shares during the period. AQR Capital Management LLC acquired a new position in QuantumScape in the first quarter valued at $321,000. Finally, NewEdge Advisors LLC grew its position in QuantumScape by 50.4% in the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company's stock valued at $88,000 after buying an additional 7,111 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.
QuantumScape Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider QuantumScape, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and QuantumScape wasn't on the list.
While QuantumScape currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
