QuantumScape (NYSE:QS) Stock Price Up 6.2% - Here's Why

QuantumScape Corporation (NYSE:QS - Get Free Report)'s stock price rose 6.2% on Tuesday . The company traded as high as $11.15 and last traded at $10.67. Approximately 40,214,034 shares changed hands during trading, an increase of 172% from the average daily volume of 14,779,790 shares. The stock had previously closed at $10.05.

Analyst Upgrades and Downgrades

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

QuantumScape Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. The firm's 50-day moving average price is $5.13 and its two-hundred day moving average price is $4.82. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of -11.89 and a beta of 4.42.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results 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 period in the prior year, the company earned ($0.24) EPS. Sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Fritz Prinz sold 864,708 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $7.02, for a total value of $6,070,250.16. Following the completion of the transaction, the director owned 81,364 shares in the company, valued at $571,175.28. This represents a 91.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Timothy Holme sold 11,906 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $7.02, for a total transaction of $83,580.12. Following the completion of the transaction, the chief technology officer owned 1,661,928 shares of the company's stock, valued at $11,666,734.56. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,589,468 shares of company stock valued at $18,114,411 over the last ninety days. Insiders own 12.03% of the company's stock.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in QuantumScape by 362.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock worth $1,577,000 after acquiring an additional 297,097 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of QuantumScape in the fourth quarter valued at about $1,527,000. Charles Schwab Investment Management Inc. raised its position in shares of QuantumScape by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company's stock valued at $12,103,000 after purchasing an additional 104,894 shares during the period. Vanguard Group Inc. raised its position in shares of QuantumScape by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock valued at $168,367,000 after purchasing an additional 956,072 shares during the period. Finally, American Century Companies Inc. raised its position in shares of QuantumScape by 1,091.5% in the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock valued at $2,244,000 after purchasing an additional 396,160 shares during the period. 29.87% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.