QuantumScape (NYSE:QS) Stock Price Up 5.3% - Here's Why

Key Points

• QuantumScape's stock price rose 5.3%, reaching a last traded price of $16.17 after a previous close of $15.36.
• Analysts have mixed ratings for QuantumScape, with a consensus rating of "Reduce" and a price target of $5.88.
• Insiders have sold significant shares in recent transactions, with approximately 2.3 million shares sold worth around $26.8 million in less than three months.

QuantumScape Corporation (NYSE:QS - Get Free Report) rose 5.3% on Monday . The company traded as high as $16.18 and last traded at $16.17. Approximately 27,120,611 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 28,332,127 shares. The stock had previously closed at $15.36.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on QS shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of QuantumScape in a research note on Wednesday, October 8th. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research note on Monday, July 7th. Finally, Robert W. Baird boosted their target price on shares of QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $5.88.

QuantumScape Stock Performance

The business's 50-day moving average price is $11.20 and its 200-day moving average price is $7.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. The stock has a market cap of $9.15 billion, a P/E ratio of -18.80 and a beta of 4.85.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share 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 company earned ($0.25) earnings per share. As a group, sell-side analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other news, Director Jeffrey B. Straubel sold 157,180 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $9.20, for a total transaction of $1,446,056.00. Following the completion of the transaction, the director owned 348,146 shares in the company, valued at $3,202,943.20. This trade represents a 31.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Timothy Holme sold 176,352 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $7.55, for a total value of $1,331,457.60. Following the transaction, the chief technology officer owned 1,445,304 shares of the company's stock, valued at approximately $10,912,045.20. The trade was a 10.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,327,870 shares of company stock worth $26,819,135. 5.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp increased its holdings in QuantumScape by 97.2% during the first quarter. M&T Bank Corp now owns 39,964 shares of the company's stock valued at $166,000 after buying an additional 19,694 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in QuantumScape by 362.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock valued at $1,577,000 after buying an additional 297,097 shares during the period. Nuveen LLC purchased a new position in QuantumScape during the first quarter valued at approximately $2,819,000. Perbak Capital Partners LLP purchased a new position in QuantumScape during the first quarter valued at approximately $353,000. Finally, CacheTech Inc. purchased a new position in QuantumScape during the first quarter valued at approximately $130,000. 29.87% of the stock is currently owned by 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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