QuantumScape Corporation (NYSE:QS - Get Free Report) shares rose 10.4% during trading on Friday . The company traded as high as $16.42 and last traded at $16.54. Approximately 12,384,749 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 27,337,852 shares. The stock had previously closed at $14.99.
Analyst Ratings Changes
QS has been the subject of a number of research reports. Robert W. Baird increased their price target on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of QuantumScape in a research report on Wednesday. Finally, TD Cowen raised QuantumScape to a "hold" rating in a research report on Monday, July 7th. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $5.88.
Get Our Latest Analysis on QuantumScape
QuantumScape Stock Performance
The firm has a market capitalization of $8.76 billion, a P/E ratio of -17.99 and a beta of 4.85. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $10.29 and a 200-day moving average of $7.24.
QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $36.67 million for the quarter. During the same period in the prior year, the company posted ($0.25) earnings per share. On average, equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other QuantumScape news, Director Jeffrey B. Straubel sold 157,171 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $13.94, for a total transaction of $2,190,963.74. Following the completion of the sale, the director directly owned 321,040 shares in the company, valued at approximately $4,475,297.60. This trade represents a 32.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Hettrich sold 9,800 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $13.94, for a total value of $136,612.00. Following the sale, the chief financial officer owned 1,591,467 shares of the company's stock, valued at approximately $22,185,049.98. The trade was a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,327,870 shares of company stock valued at $26,819,135. 5.48% of the stock is currently owned by insiders.
Institutional Trading of QuantumScape
A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in shares of QuantumScape in the 3rd quarter valued at about $46,000. Russell Investments Group Ltd. grew its stake in shares of QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock valued at $25,000 after buying an additional 3,311 shares during the period. North Capital Inc. acquired a new stake in shares of QuantumScape in the 2nd quarter valued at about $27,000. PNC Financial Services Group Inc. grew its stake in shares of QuantumScape by 54.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company's stock valued at $37,000 after buying an additional 1,963 shares during the period. Finally, Signaturefd LLC grew its stake in shares of QuantumScape by 2,086.1% in the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after buying an additional 5,841 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.
About QuantumScape
(
Get Free Report)
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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