Shares of QuantumScape Corporation (NYSE:QS - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $4.33, but opened at $6.01. QuantumScape shares last traded at $6.01, with a volume of 55,805,759 shares traded.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on QS. UBS Group downgraded shares of QuantumScape from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. The Goldman Sachs Group decreased their target price on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, April 28th. Finally, Robert W. Baird decreased their target price on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Three 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 an average rating of "Hold" and a consensus target price of $5.19.
Get Our Latest Stock Report on QuantumScape
QuantumScape Price Performance
The firm has a 50-day moving average of $4.14 and a two-hundred day moving average of $4.60. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03.
QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter in the prior year, the firm posted ($0.24) earnings per share. As a group, equities analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.
Insider Activity at QuantumScape
In other news, Director Fritz Prinz sold 61,523 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total value of $242,400.62. Following the completion of the sale, the director now directly owns 231,530 shares in the company, valued at $912,228.20. The trade was a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mohit Singh sold 71,428 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $4.41, for a total value of $314,997.48. Following the completion of the sale, the insider now owns 1,640,998 shares of the company's stock, valued at $7,236,801.18. This trade represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.03% of the stock is owned by company insiders.
Institutional Trading of QuantumScape
Institutional investors and hedge funds have recently made changes to their positions in the business. Heck Capital Advisors LLC purchased a new stake in shares of QuantumScape in the fourth quarter valued at approximately $26,000. Raiffeisen Bank International AG acquired a new position in QuantumScape during the fourth quarter worth $29,000. Signaturefd LLC boosted its stake in QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after buying an additional 5,841 shares during the last quarter. Federated Hermes Inc. boosted its stake in QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after buying an additional 5,438 shares during the last quarter. Finally, Hollencrest Capital Management boosted its stake in 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 buying an additional 5,000 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.
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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