QuantumScape Corporation (NYSE:QS - Get Free Report) hit a new 52-week high on Saturday . The company traded as high as $9.77 and last traded at $9.22, with a volume of 55418253 shares. The stock had previously closed at $9.09.
Wall Street Analysts Forecast Growth
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. Robert W. Baird decreased their target price on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research note on Monday, April 28th. Finally, TD Cowen upgraded QuantumScape to a "hold" rating in a research note on Monday, July 7th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to data from MarketBeat, QuantumScape currently has an average rating of "Hold" and a consensus price target of $5.19.
Check Out Our Latest Stock Report on QS
QuantumScape Price Performance
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 stock has a market capitalization of $5.15 billion, a P/E ratio of -10.13 and a beta of 4.42. The firm has a 50-day moving average price of $5.00 and a 200 day moving average price of $4.80.
QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period last year, the company posted ($0.24) earnings per share. On average, analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.
Insiders Place Their Bets
In other QuantumScape news, insider Mohit Singh sold 465,000 shares of the 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 owned 1,641,711 shares in the company, valued at approximately $13,478,447.31. This trade represents a 22.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Timothy Holme sold 11,906 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $7.02, for a total value of $83,580.12. Following the completion of the sale, the chief technology officer owned 1,661,928 shares of the company's stock, valued at approximately $11,666,734.56. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,589,468 shares of company stock worth $18,114,411. 12.03% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of QuantumScape by 2,086.1% in the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after purchasing an additional 5,841 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in QuantumScape during the fourth quarter valued at about $26,000. Federated Hermes Inc. lifted its holdings in QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after purchasing an additional 5,438 shares in the last quarter. Hollencrest Capital Management boosted its position in shares of QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in shares of QuantumScape during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 29.87% of the company's stock.
About QuantumScape
(
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.
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