QuantumScape (NYSE:QS) Stock Price Up 15.8% - Here's Why

Key Points

• QuantumScape's stock price rose by 15.8% during mid-day trading on Monday, reaching a last traded price of $17.02, significantly above its prior closing price of $14.70.
• Analysts have mixed views on the stock, with a majority rating it as a "hold," while one firm increased its price target from $6.00 to $11.00.
• Insider trading activity included significant sales, with the Chief Technology Officer and a Director reducing their holdings, while institutional investors have generally increased their stakes in the company.

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price rose 15.8% during mid-day trading on Monday . The stock traded as high as $17.79 and last traded at $17.02. Approximately 63,128,596 shares changed hands during trading, an increase of 126% from the average daily volume of 27,882,762 shares. The stock had previously closed at $14.70.

Analyst Upgrades and Downgrades

QS has been the subject of several research reports. TD Cowen upgraded QuantumScape to a "hold" rating in a research report on Monday, July 7th. Weiss Ratings restated a "sell (d-)" rating on shares of QuantumScape in a research report on Wednesday, October 8th. Finally, Robert W. Baird lifted their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $5.88.

QuantumScape Price Performance

The stock has a market capitalization of $9.64 billion, a PE ratio of -19.79 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's 50 day simple moving average is $10.42 and its 200 day simple moving average is $7.34.

QuantumScape (NYSE:QS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The firm had revenue of $36.67 million during the quarter. During the same period in the prior year, the firm earned ($0.25) earnings per share. On average, equities analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Activity at QuantumScape

In other news, CTO Timothy Holme sold 166,442 shares of the business's stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $15.52, for a total transaction of $2,583,179.84. Following the completion of the sale, the chief technology officer directly owned 1,364,273 shares of the company's stock, valued at $21,173,516.96. The trade was a 10.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey B. Straubel sold 157,171 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total transaction of $2,190,963.74. Following the sale, the director directly owned 321,040 shares of the company's stock, valued at $4,475,297.60. This represents a 32.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,327,870 shares of company stock valued at $26,819,135 over the last quarter. 5.48% of the stock is currently owned by corporate insiders.

Institutional Trading of QuantumScape

Several institutional investors have recently made changes to their positions in the stock. Wedmont Private Capital increased its stake in shares of QuantumScape by 5.7% in the third quarter. Wedmont Private Capital now owns 15,115 shares of the company's stock valued at $186,000 after purchasing an additional 815 shares during the period. Baird Financial Group Inc. increased its stake in shares of QuantumScape by 8.5% in the second quarter. Baird Financial Group Inc. now owns 18,575 shares of the company's stock valued at $125,000 after purchasing an additional 1,450 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of QuantumScape by 54.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company's stock valued at $37,000 after purchasing an additional 1,963 shares during the period. Wealthfront Advisers LLC increased its stake in shares of QuantumScape by 12.9% in the second quarter. Wealthfront Advisers LLC now owns 21,844 shares of the company's stock valued at $147,000 after purchasing an additional 2,495 shares during the period. Finally, Birchcreek Wealth Management LLC increased its stake in shares of QuantumScape by 11.5% in the first quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock valued at $105,000 after purchasing an additional 2,600 shares during the period. 29.87% of the stock is owned by hedge funds and other 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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