QuantumScape (NYSE:QS) Trading Up 3.4% - What's Next?

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QS. The Goldman Sachs Group lowered their price target on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Monday, April 28th. Robert W. Baird upped their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday. TD Cowen raised shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. Finally, UBS Group lowered shares of QuantumScape from a "neutral" rating to a "sell" rating and cut their target price for the stock from $5.00 to $2.50 in a research report on Thursday, April 10th. Three 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 a consensus rating of "Hold" and a consensus target price of $5.90.

QuantumScape Trading Down 5.5%

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

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, meeting analysts' consensus estimates of ($0.20). The firm had revenue of $36.67 million during the quarter. During the same period in the previous year, the business posted ($0.25) earnings per share. Equities analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 465,000 shares of the business's stock in a transaction dated 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 completion of the sale, the insider owned 1,641,711 shares of the company's stock, valued at $13,478,447.31. The trade was a 22.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Fritz Prinz sold 70,187 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $11.62, for a total transaction of $815,572.94. Following the completion of the transaction, the director owned 161,343 shares of the company's stock, valued at $1,874,805.66. The trade was a 30.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,589,468 shares of company stock valued at $29,734,411 in the last quarter. Company insiders own 12.03% of the company's stock.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors have recently added to or reduced their stakes in QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock valued at $19,799,000 after purchasing an additional 3,904,168 shares during the last quarter. Norges Bank bought a new stake in shares of QuantumScape in the 4th quarter valued at $17,762,000. Vanguard Group Inc. boosted its stake in shares of QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after purchasing an additional 2,911,362 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of QuantumScape by 55.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock valued at $30,183,000 after purchasing an additional 2,066,844 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of QuantumScape in the 1st quarter valued at $2,819,000. 29.87% of the stock is 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.