QuantumScape (NYSE:QS) Trading 15.4% Higher - What's Next?

QuantumScape Corporation (NYSE:QS - Get Free Report)'s stock price rose 15.4% during mid-day trading on Tuesday . The company traded as high as $8.29 and last traded at $8.09. Approximately 30,108,953 shares were traded during trading, an increase of 111% from the average daily volume of 14,282,188 shares. The stock had previously closed at $7.01.

Analyst Upgrades and Downgrades

QS has been the subject of a number of recent analyst reports. UBS Group downgraded QuantumScape from a "neutral" rating to a "sell" rating and cut their price objective for the stock 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. Robert W. Baird cut their price objective on QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group lowered their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $5.19.

QuantumScape Stock Up 16.5%

The business has a fifty day moving average of $4.71 and a 200 day moving average of $4.73. The company has a market capitalization of $4.57 billion, a PE ratio of -8.98 and a beta of 4.42. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same quarter in the prior year, the firm posted ($0.24) earnings per share. Equities research analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Buying and Selling

In related news, insider Mohit Singh sold 325,000 shares of QuantumScape stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $7.21, for a total value of $2,343,250.00. Following the completion of the transaction, the insider owned 1,641,711 shares in the company, valued at $11,836,736.31. The trade was a 16.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fritz Prinz sold 864,708 shares of QuantumScape stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $7.02, for a total transaction of $6,070,250.16. Following the completion of the transaction, the director owned 81,364 shares of the company's stock, valued at $571,175.28. This represents a 91.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,124,468 shares of company stock worth $14,296,761 over the last 90 days. 12.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in QuantumScape by 4.7% during the fourth 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. Arizona State Retirement System lifted its stake in QuantumScape by 2.3% during the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company's stock worth $578,000 after purchasing an additional 2,483 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in QuantumScape during the fourth quarter worth approximately $1,527,000. Swiss National Bank lifted its stake in QuantumScape by 2.2% during the fourth quarter. Swiss National Bank now owns 754,700 shares of the company's stock worth $3,917,000 after purchasing an additional 16,500 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in QuantumScape by 9.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 481,916 shares of the company's stock worth $2,501,000 after purchasing an additional 41,712 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

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.