QuantumScape (NYSE:QS) Shares Up 14.5% - What's Next?

Key Points

• QuantumScape's stock price surged 14.5% to a high of $16.98, with significantly increased trading volume of 48 million shares compared to its average.
• Several analysts have adjusted their ratings for QuantumScape, with a consensus rating of "Reduce" and an average target price of $6.47, while analyst ratings range from "hold" to "sell."
• Recent insider trading shows CFO Kevin Hettrich sold 9,800 shares, decreasing his ownership, while institutional investors have significantly increased their positions in the stock.

QuantumScape Corporation (NYSE:QS - Get Free Report)'s stock price shot up 14.5% on Friday . The stock traded as high as $16.98 and last traded at $16.78. 48,122,221 shares traded hands during trading, an increase of 68% from the average session volume of 28,605,680 shares. The stock had previously closed at $14.66.

Analyst Ratings Changes

Several research firms have weighed in on QS. TD Cowen raised QuantumScape to a "hold" rating in a research report on Monday, July 7th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the stock a "hold" rating in a report on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of QuantumScape in a report on Wednesday, October 8th. Finally, Robert W. Baird boosted their target price on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $6.47.

QuantumScape Trading Up 14.5%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. The business has a fifty day simple moving average of $11.66 and a 200 day simple moving average of $8.03. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of -20.72 and a beta of 4.85.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting analysts' consensus estimates of ($0.18). The firm had revenue of ($36.67) million during the quarter. During the same quarter last year, the company posted ($0.23) earnings per share. As a group, research analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Buying and Selling

In other news, CFO Kevin Hettrich sold 9,800 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $13.94, for a total transaction of $136,612.00. Following the completion of the sale, the chief financial officer directly owned 1,591,467 shares in the company, valued at approximately $22,185,049.98. This represents a 0.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 38,035 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $9.13, for a total value of $347,259.55. Following the sale, the insider owned 1,397,382 shares of the company's stock, valued at approximately $12,758,097.66. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 827,870 shares of company stock valued at $9,399,135. 5.48% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC lifted its position in shares of QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after acquiring an additional 5,841 shares during the period. Russell Investments Group Ltd. lifted its position in shares of QuantumScape by 685.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock worth $25,000 after buying an additional 3,311 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of QuantumScape by 660.0% during the 1st 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. Hollencrest Capital Management lifted its position in shares of QuantumScape by 333.3% during the 1st 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. Finally, North Capital Inc. bought a new stake in shares of QuantumScape during the 2nd quarter worth $27,000. 29.87% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.