QuantumScape (NYSE:QS) Stock Price Up 1% - What's Next?

QuantumScape Corporation (NYSE:QS - Get Free Report) shot up 1% during trading on Wednesday . The stock 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.

Analysts Set New Price Targets

A number of brokerages have commented on QS. Robert W. Baird cut their price target on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. TD Cowen raised QuantumScape to a "hold" rating in a research report on Monday. UBS Group cut QuantumScape from a "neutral" rating to a "sell" rating and cut their price objective for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group decreased their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Monday, April 28th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $5.19.

QuantumScape Stock Up 1.8%

The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03. The stock has a market cap of $4.66 billion, a P/E ratio of -9.15 and a beta of 4.42. The firm has a 50-day simple moving average of $4.71 and a two-hundred day simple moving average of $4.73.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same quarter in the previous year, the company earned ($0.24) EPS. Equities research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mohit Singh sold 325,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $7.21, for a total transaction of $2,343,250.00. Following the completion of the sale, the insider directly owned 1,641,711 shares in the company, valued at approximately $11,836,736.31. This represents a 16.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 864,708 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $7.02, for a total value of $6,070,250.16. Following the completion of the transaction, the director directly owned 81,364 shares of the company's stock, valued at approximately $571,175.28. This trade represents a 91.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,124,468 shares of company stock worth $14,296,761 in the last 90 days. Company insiders own 12.03% of the company's stock.

Institutional Trading of QuantumScape

Several large investors have recently made changes to their positions in the company. Signaturefd LLC increased its holdings in shares of QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after buying an additional 5,841 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in QuantumScape during the fourth quarter valued at $26,000. Federated Hermes Inc. grew its stake in QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after purchasing an additional 5,438 shares during the period. Hollencrest Capital Management increased its stake in shares of QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in shares of QuantumScape during the fourth quarter valued at about $29,000. Institutional investors and hedge funds 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.

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