QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price was up 4% on Friday . The company traded as high as $14.89 and last traded at $14.15. Approximately 70,579,266 shares traded hands during mid-day trading, an increase of 249% from the average daily volume of 20,246,834 shares. The stock had previously closed at $13.60.
Wall Street Analysts Forecast Growth
QS has been the subject of several analyst reports. TD Cowen raised QuantumScape to a "hold" rating in a report on Monday, July 7th. The Goldman Sachs Group dropped their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, April 28th. Robert W. Baird decreased their price objective on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, 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. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, QuantumScape has a consensus rating of "Hold" and an average price target of $5.19.
Check Out Our Latest Stock Report on QuantumScape
QuantumScape Price Performance
The business's fifty day simple moving average is $5.61 and its 200 day simple moving average is $4.96. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of -16.16 and a beta of 4.42. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66.
QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same quarter last year, the company earned ($0.24) EPS. Research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.
Insider Activity
In other news, Director Fritz Prinz sold 864,708 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $7.02, for a total transaction of $6,070,250.16. Following the transaction, the director owned 81,364 shares in the company, valued at $571,175.28. This represents a 91.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mohit Singh sold 465,000 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the sale, the insider directly owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. This represents a 22.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,589,468 shares of company stock worth $18,114,411 over the last 90 days. 12.03% of the stock is owned by company insiders.
Institutional Trading of QuantumScape
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. increased its position in QuantumScape by 17.8% in the 4th quarter. Xponance Inc. now owns 15,862 shares of the company's stock valued at $82,000 after acquiring an additional 2,400 shares in the last quarter. Birchcreek Wealth Management LLC boosted its stake in QuantumScape by 11.5% during the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock worth $105,000 after acquiring an additional 2,600 shares during the last quarter. HighTower Advisors LLC lifted its stake in QuantumScape by 13.7% in the first quarter. HighTower Advisors LLC now owns 23,611 shares of the company's stock valued at $98,000 after buying an additional 2,838 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in QuantumScape by 19.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,199 shares of the company's stock valued at $94,000 after buying an additional 2,997 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in QuantumScape by 2.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 158,579 shares of the company's stock valued at $823,000 after buying an additional 3,180 shares in the last quarter. 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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