QuantumScape (NYSE:QS) Shares Up 5.7% Following Analyst Upgrade

Shares of QuantumScape Corporation (NYSE:QS - Get Free Report) were up 5.7% on Thursday after Robert W. Baird raised their price target on the stock from $6.00 to $11.00. Robert W. Baird currently has a neutral rating on the stock. QuantumScape traded as high as $13.43 and last traded at $13.56. Approximately 29,675,149 shares changed hands during trading, an increase of 31% from the average daily volume of 22,706,846 shares. The stock had previously closed at $12.83.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group cut their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Monday, April 28th. TD Cowen upgraded QuantumScape to a "hold" rating in a report on Monday, July 7th. Finally, UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $5.00 to $2.50 in a research report on Thursday, April 10th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.90.

Insiders Place Their Bets

In related news, CTO Timothy Holme sold 11,906 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $7.02, for a total transaction of $83,580.12. Following the completion of the sale, the chief technology officer owned 1,661,928 shares in the company, valued at approximately $11,666,734.56. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mohit Singh sold 465,000 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total value of $3,817,650.00. Following the sale, 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 3,589,468 shares of company stock valued at $29,734,411. 12.03% of the stock is currently owned by corporate insiders.

Institutional Trading of QuantumScape

A number of hedge funds and other institutional investors have recently bought and sold shares of QS. Xponance Inc. raised its stake in shares of QuantumScape by 17.8% during the 4th quarter. Xponance Inc. now owns 15,862 shares of the company's stock valued at $82,000 after buying an additional 2,400 shares during the last quarter. Birchcreek Wealth Management LLC increased its stake in QuantumScape by 11.5% during the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock worth $105,000 after buying an additional 2,600 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of QuantumScape by 13.7% during the 1st quarter. HighTower Advisors LLC now owns 23,611 shares of the company's stock worth $98,000 after purchasing an additional 2,838 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of QuantumScape by 19.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,199 shares of the company's stock worth $94,000 after purchasing an additional 2,997 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of QuantumScape by 2.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 158,579 shares of the company's stock worth $823,000 after purchasing an additional 3,180 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

QuantumScape Stock Down 5.5%

The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of -13.88 and a beta of 4.42. The business has a fifty day moving average of $6.66 and a 200 day moving average of $5.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.66 and a quick ratio of 16.66.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million for the quarter. During the same quarter in the prior year, the company earned ($0.25) earnings per share. As a group, equities analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

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.