QuantumScape (NYSE:QS) Trading 3.4% Higher - Here's What Happened

Shares of QuantumScape Corporation (NYSE:QS - Get Free Report) shot up 3.4% during mid-day trading on Tuesday . The company traded as high as $12.78 and last traded at $12.95. 44,192,151 shares traded hands during mid-day trading, an increase of 167% from the average session volume of 16,541,188 shares. The stock had previously closed at $12.52.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QS shares. Robert W. Baird lowered their price objective on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and cut their target price for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research note on Monday, July 7th. Finally, The Goldman Sachs Group dropped their price target 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 research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $5.19.

QuantumScape Trading Up 11.0%

The company's 50 day moving average price is $5.82 and its 200 day moving average price is $5.02. The company has a market cap of $7.77 billion, a price-to-earnings ratio of -15.12 and a beta of 4.42. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly 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 quarter in the previous year, the company earned ($0.24) EPS. Research analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Buying and Selling

In other QuantumScape news, CTO Timothy Holme sold 358,330 shares of QuantumScape stock in a transaction that occurred 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 transaction, the chief technology officer owned 1,705,428 shares of the company's stock, valued at approximately $11,989,158.84. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Fritz Prinz sold 864,708 shares of QuantumScape stock in a transaction that occurred on Thursday, July 3rd. The shares were 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 directly owned 81,364 shares in the company, valued at approximately $571,175.28. The trade was a 91.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,589,468 shares of company stock valued at $18,114,411 in the last 90 days. 12.03% of the stock is owned by insiders.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently bought and sold shares of QS. Signaturefd LLC increased its position in QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after purchasing an additional 5,841 shares during the period. Heck Capital Advisors LLC acquired a new stake in QuantumScape during the 4th quarter valued at approximately $26,000. Federated Hermes Inc. increased its position in QuantumScape by 660.0% during the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock valued at $26,000 after purchasing an additional 5,438 shares during the period. Hollencrest Capital Management increased its position in QuantumScape by 333.3% during the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after purchasing an additional 5,000 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in shares of QuantumScape during the 4th quarter worth approximately $29,000. Institutional investors 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.

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.