QuantumScape (NYSE:QS) Stock Price Up 1.7% - What's Next?

Key Points

• QuantumScape's stock price increased by 1.7% on Thursday, closing at $8.18 after reaching a high of $8.20, but the trading volume was significantly lower at 2.66 million shares compared to the average of 23.99 million.
• The company's quarterly earnings resulted in an EPS of ($0.20), matching expectations, with revenue of $36.67 million, a slight improvement from the previous year.
• Insider selling has been notable, with director Fritz Prinz offloading 929,813 shares at a price averaging $11.62, representing a major reduction of 85.21% in his ownership of the stock.

QuantumScape Corporation (NYSE:QS - Get Free Report) shares rose 1.7% during trading on Thursday . The company traded as high as $8.20 and last traded at $8.18. Approximately 2,662,000 shares were traded during trading, a decline of 89% from the average daily volume of 23,987,746 shares. The stock had previously closed at $8.04.

Analyst Ratings Changes

QS has been the subject of a number of research reports. TD Cowen raised QuantumScape to a "hold" rating in a research report on Monday, July 7th. Robert W. Baird lifted their price target on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Seven research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $5.90.

QuantumScape Stock Performance

The firm has a 50-day moving average price of $8.75 and a 200 day moving average price of $5.82. The firm has a market capitalization of $4.62 billion, a PE ratio of -9.49 and a beta of 4.43. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly 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 for the quarter. During the same period in the prior year, the company posted ($0.25) EPS. Research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Transactions at QuantumScape

In other news, Director Fritz Prinz sold 929,813 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the completion of the transaction, the director directly owned 161,343 shares in the company, valued at $1,874,805.66. This trade represents a 85.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Timothy Holme sold 358,330 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $7.03, for a total value of $2,519,059.90. Following the completion of the sale, the chief technology officer owned 1,705,428 shares in the company, valued at approximately $11,989,158.84. The trade was a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,956,517 shares of company stock valued at $34,977,013. Corporate insiders own 5.48% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QS. Raymond James Financial Inc. purchased a new position in QuantumScape in the fourth quarter valued at $1,527,000. Barclays PLC raised its stake in QuantumScape by 4.8% in the fourth quarter. Barclays PLC now owns 109,339 shares of the company's stock valued at $567,000 after buying an additional 5,006 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in QuantumScape by 55.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock valued at $30,183,000 after buying an additional 2,066,844 shares in the last quarter. Stifel Financial Corp raised its stake in QuantumScape by 13.4% in the fourth quarter. Stifel Financial Corp now owns 153,503 shares of the company's stock valued at $797,000 after buying an additional 18,186 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in QuantumScape in the fourth quarter valued at $74,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

About QuantumScape

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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