QuantumScape (NYSE:QS) Shares Up 6.4% - What's Next?

Key Points

• Shares rose 6.4% intraday to about $7.69 on Monday, with 11.75 million shares traded—roughly 23% below the stock's average daily volume.
• Analysts are predominantly cautious, with most ratings at Hold/Reduce and an average price target of $9.90 after several firms trimmed their targets.
• Significant insider selling occurred recently (666,925 shares worth ~$4.48M in the last quarter), while QuantumScape remains unprofitable and carries a $4.38 billion market cap.

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price shot up 6.4% during mid-day trading on Monday . The stock traded as high as $7.65 and last traded at $7.6850. 11,748,436 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 15,171,824 shares. The stock had previously closed at $7.22.

Analyst Ratings Changes

A number of brokerages recently weighed in on QS. Robert W. Baird set a $12.00 price target on shares of QuantumScape in a research report on Thursday, February 12th. TD Cowen restated a "hold" rating on shares of QuantumScape in a research note on Wednesday, February 18th. HSBC raised QuantumScape from a "reduce" rating to a "hold" rating and decreased their target price for the stock from $10.50 to $8.30 in a research report on Wednesday, February 18th. Finally, Morgan Stanley dropped their target price on QuantumScape from $12.00 to $8.50 and set an "equal weight" rating on the stock in a report on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $9.90.

QuantumScape Price Performance

The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The stock has a market cap of $4.38 billion, a PE ratio of -8.83 and a beta of 2.54. The company's 50 day moving average is $6.81 and its 200-day moving average is $10.36.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. During the same period last year, the company earned ($0.21) EPS. As a group, sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey B. Straubel sold 27,106 shares of the company's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $6.17, for a total value of $167,244.02. Following the sale, the director owned 158,404 shares in the company, valued at approximately $977,352.68. This represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael O. Mccarthy III sold 45,000 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $6.73, for a total transaction of $302,850.00. Following the transaction, the insider directly owned 954,219 shares in the company, valued at $6,421,893.87. The trade was a 4.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 666,925 shares of company stock worth $4,483,577 in the last quarter. Company insiders own 5.48% of the company's stock.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in QuantumScape during the third quarter worth $33,962,000. Vanguard Group Inc. increased its stake in QuantumScape by 1.2% during the third quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company's stock valued at $451,346,000 after purchasing an additional 422,378 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of QuantumScape during the fourth quarter worth $4,475,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of QuantumScape during the third quarter worth $3,330,000. Finally, Cookson Peirce & Co. Inc. bought a new position in shares of QuantumScape in the 3rd quarter worth about $2,222,000. Institutional investors and hedge funds own 29.87% of the company's stock.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company's core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape's product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.