QuantumScape (NYSE:QS) Stock Price Up 18.2% - Here's Why

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price rose 18.2% on Thursday . The stock traded as high as $13.61 and last traded at $13.41. Approximately 50,493,855 shares changed hands during mid-day trading, an increase of 231% from the average daily volume of 15,262,175 shares. The stock had previously closed at $11.35.

Wall Street Analysts Forecast Growth

QS has been the topic of several recent research reports. Robert W. Baird cut their price target on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. UBS Group cut QuantumScape from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. TD Cowen raised QuantumScape to a "hold" rating in a research report on Monday, July 7th. Finally, The Goldman Sachs Group lowered their price objective on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $5.19.

QuantumScape Price Performance

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 capitalization of $7.62 billion, a PE ratio of -14.99 and a beta of 4.42. The firm has a 50 day moving average price of $5.42 and a 200 day moving average price of $4.91.

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 analysts' consensus estimates of ($0.19) by ($0.02). During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Research analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insiders Place Their Bets

In other QuantumScape news, CTO Timothy Holme sold 358,330 shares of the company's 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 sale, the chief technology officer directly owned 1,705,428 shares of the company's stock, valued at approximately $11,989,158.84. This represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mohit Singh sold 465,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the transaction, the insider owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. This trade represents a 22.07% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,589,468 shares of company stock valued at $18,114,411. 12.03% of the stock is currently owned by insiders.

Institutional Trading of QuantumScape

Several institutional investors have recently added to or reduced their stakes in QS. Cambridge Investment Research Advisors Inc. lifted its position in shares of QuantumScape by 362.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock worth $1,577,000 after purchasing an additional 297,097 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of QuantumScape during the 4th quarter worth $1,527,000. Charles Schwab Investment Management Inc. lifted its position 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 worth $12,103,000 after purchasing an additional 104,894 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of QuantumScape by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock worth $168,367,000 after purchasing an additional 956,072 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in QuantumScape by 1,091.5% during the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock worth $2,244,000 after acquiring an additional 396,160 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company's stock.

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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