QuantumScape (NYSE:QS) Stock Price Up 1% - Here's Why

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price traded up 1% during trading on Wednesday . The company traded as high as $8.79 and last traded at $8.26. 28,885,297 shares were traded during mid-day trading, an increase of 99% from the average session volume of 14,550,076 shares. The stock had previously closed at $8.18.

Analyst Ratings Changes

QS has been the subject of several recent analyst reports. Robert W. Baird decreased their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and cut their target price for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. The Goldman Sachs Group lowered their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a report on Monday, April 28th. Finally, TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $5.19.

QuantumScape Price Performance

The firm has a market cap of $5.07 billion, a price-to-earnings ratio of -9.97 and a beta of 4.42. The business has a 50 day simple moving average of $4.80 and a 200-day simple moving average of $4.75. 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 issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter last year, the company posted ($0.24) earnings per share. Equities research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Buying and Selling at QuantumScape

In related news, insider Mohit Singh sold 465,000 shares of QuantumScape stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total value of $3,817,650.00. Following the sale, the insider owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. The trade was a 22.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Timothy Holme sold 11,906 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $7.02, for a total value of $83,580.12. Following the transaction, the chief technology officer directly owned 1,661,928 shares of the company's stock, valued at approximately $11,666,734.56. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,589,468 shares of company stock worth $18,114,411. Insiders own 12.03% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of QuantumScape by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company's stock valued at $12,103,000 after purchasing an additional 104,894 shares during the period. Arizona State Retirement System lifted its holdings in shares of QuantumScape by 2.3% in the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company's stock worth $578,000 after buying an additional 2,483 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of QuantumScape in the fourth quarter valued at approximately $1,527,000. Swiss National Bank grew its stake in QuantumScape by 2.2% during the fourth quarter. Swiss National Bank now owns 754,700 shares of the company's stock valued at $3,917,000 after acquiring an additional 16,500 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in QuantumScape by 9.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 481,916 shares of the company's stock worth $2,501,000 after acquiring an additional 41,712 shares during the period. Hedge funds and other institutional investors own 29.87% of the company's stock.

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.