QuantumScape (NYSE:QS) Stock Price Up 4% - What's Next?

Key Points

• QuantumScape's stock rose by 4% on Monday, trading at $9.11 after previously closing at $8.76, with a significant drop in trading volume.
• Analysts have mixed opinions, with a consensus rating of "Hold" and an average price target of $5.90, while TD Cowen upgraded the stock to a "hold" rating.
• Insider trading activities revealed that several executives, including Michael O. Mccarthy III, sold substantial quantities of shares, indicating a notable decrease in their positions.

QuantumScape Corporation (NYSE:QS - Get Free Report) shares rose 4% on Monday . The company traded as high as $9.24 and last traded at $9.11. Approximately 9,341,628 shares changed hands during trading, a decline of 62% from the average daily volume of 24,536,469 shares. The stock had previously closed at $8.76.

Analysts Set New Price Targets

QS has been the topic of a number of research analyst reports. The Goldman Sachs Group dropped their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Monday, April 28th. Robert W. Baird boosted their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, TD Cowen raised shares of QuantumScape to a "hold" rating in a report 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. According to data from MarketBeat.com, QuantumScape has an average rating of "Hold" and an average price target of $5.90.

QuantumScape Price Performance

The stock has a 50 day simple moving average of $7.95 and a two-hundred day simple moving average of $5.59. The firm has a market cap of $5.07 billion, a PE ratio of -10.38 and a beta of 4.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). The firm had revenue of $36.67 million during the quarter. During the same period in the prior year, the business posted ($0.25) EPS. Sell-side analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Activity

In other news, CTO Timothy Holme sold 11,906 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $7.02, for a total transaction of $83,580.12. Following the sale, the chief technology officer directly owned 1,661,928 shares of the company's stock, valued at $11,666,734.56. This represents a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mohit Singh sold 465,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $13,478,447.31. The trade was a 22.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,089,468 shares of company stock valued at $35,534,411. Insiders own 5.48% of the company's stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently modified their holdings of QS. Geode Capital Management LLC boosted its stake in shares of QuantumScape by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 5,882,031 shares of the company's stock worth $30,538,000 after acquiring an additional 28,073 shares in the last quarter. Invesco Ltd. boosted its stake in QuantumScape by 8.3% during the 4th quarter. Invesco Ltd. now owns 1,550,012 shares of the company's stock worth $8,045,000 after purchasing an additional 118,710 shares during the last quarter. Legal & General Group Plc lifted its stake in QuantumScape by 1.5% in the 4th quarter. Legal & General Group Plc now owns 405,363 shares of the company's stock worth $2,104,000 after purchasing an additional 5,838 shares in the last quarter. Raymond James Financial Inc. purchased a new position in QuantumScape in the 4th quarter worth approximately $1,527,000. Finally, Capital Fund Management S.A. purchased a new position in QuantumScape in the 4th quarter worth approximately $871,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Company Profile

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.