QuantumScape (NYSE:QS) Releases Quarterly Earnings Results

QuantumScape (NYSE:QS - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02), Zacks reports. During the same quarter last year, the firm earned ($0.24) EPS.

QuantumScape Stock Performance

NYSE:QS traded down $0.01 during mid-day trading on Monday, hitting $3.94. 5,788,652 shares of the company traded hands, compared to its average volume of 10,702,999. The stock's fifty day moving average price is $4.26 and its 200-day moving average price is $4.90. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape has a one year low of $3.40 and a one year high of $9.52. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -4.20 and a beta of 4.37.

Insider Buying and Selling

In related news, CFO Kevin Hettrich sold 53,975 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $282,289.25. Following the completion of the sale, the chief financial officer now owns 930,800 shares in the company, valued at approximately $4,868,084. This trade represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.22, for a total value of $67,379.76. Following the completion of the transaction, the director now owns 228,287 shares of the company's stock, valued at $1,191,658.14. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,198 shares of company stock valued at $748,796. 12.03% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird reduced their price target on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday. Truist Financial decreased their price objective on QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, February 14th. UBS Group cut QuantumScape from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. The Goldman Sachs Group cut their target price on shares of QuantumScape from $4.00 to $3.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Finally, Evercore ISI reissued a "hold" rating on shares of QuantumScape in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $5.26.

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.