QuantumScape (NYSE:QS) Shares Up 5.6% - What's Next?

Key Points

• QuantumScape's stock rose 5.6% on Wednesday, trading at a high of $19.07, with a significant increase in trading volume, surpassing the average by 167%.
• Following recent analyst ratings, the stock has a consensus rating of "Reduce" with a target price of $5.88, while some firms have upgraded their outlook and adjusted price targets.
• Recent insider trading reveals substantial shares sold by directors, indicating a 31.10% and 85.21% decrease in their ownership, collectively totaling sales of over $28 million in three months.

QuantumScape Corporation (NYSE:QS - Get Free Report) shares shot up 5.6% on Wednesday . The stock traded as high as $19.07 and last traded at $17.83. 75,299,308 shares were traded during mid-day trading, an increase of 167% from the average session volume of 28,196,969 shares. The stock had previously closed at $16.88.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QS. TD Cowen raised shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. 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 research report on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of QuantumScape in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $5.88.

QuantumScape Trading Up 5.6%

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 company's 50 day moving average price is $10.76 and its 200 day moving average price is $7.50. The company has a market cap of $10.09 billion, a price-to-earnings ratio of -20.73 and a beta of 4.85.

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

Insider Activity at QuantumScape

In related news, Director Jeffrey B. Straubel sold 157,180 shares of the business's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $9.20, for a total transaction of $1,446,056.00. Following the completion of the transaction, the director owned 348,146 shares in the company, valued at approximately $3,202,943.20. The trade was a 31.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fritz Prinz sold 929,813 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the transaction, the director owned 161,343 shares of the company's stock, valued at $1,874,805.66. The trade was a 85.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,327,870 shares of company stock valued at $26,819,135. Insiders own 5.48% of the company's stock.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently modified their holdings of QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock worth $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Vanguard Group Inc. increased its holdings in QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after buying an additional 2,911,362 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of QuantumScape by 2,036.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company's stock valued at $16,483,000 after purchasing an additional 2,338,038 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of QuantumScape by 1,005.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company's stock valued at $13,323,000 after purchasing an additional 1,803,196 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of QuantumScape by 148.0% during the 2nd quarter. Bank of America Corp DE now owns 2,803,989 shares of the company's stock valued at $18,843,000 after purchasing an additional 1,673,472 shares during the last quarter. 29.87% of the stock is owned by 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.

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