QuantumScape (NYSE:QS) Trading 3.7% Higher - Here's Why

Key Points

• QuantumScape's stock price increased by 3.7%, reaching a high of $8.15, despite a significant decline in trading volume, down 83% from its average session volume.
• Analysts have a consensus rating of "Reduce" for the stock, with a consensus price target of $5.90, while Robert W. Baird recently raised their target price to $11.00.
• Insider selling was notable, with the CTO and another insider selling thousands of shares, representing a combined decrease in ownership of over 22%.

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price traded up 3.7% during mid-day trading on Wednesday . The stock traded as high as $8.15 and last traded at $8.02. 4,075,760 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 23,749,576 shares. The stock had previously closed at $7.73.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. TD Cowen raised shares of QuantumScape to a "hold" rating in a report on Monday, July 7th. Seven investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, QuantumScape has a consensus rating of "Reduce" and a consensus price target of $5.90.

QuantumScape Stock Performance

The business's fifty day simple moving average is $9.03 and its 200-day simple moving average is $5.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. The firm has a market capitalization of $4.43 billion, a PE ratio of -9.09 and a beta of 4.42.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $36.67 million during the quarter. During the same quarter in the previous year, the company earned ($0.25) EPS. As a group, equities research analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Buying and Selling at QuantumScape

In other 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 sale, the insider directly owned 1,641,711 shares in the company, valued at $13,478,447.31. The trade was a 22.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Timothy Holme sold 11,906 shares of the business's stock in a transaction dated 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 trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,956,517 shares of company stock valued at $34,977,013. Corporate insiders own 5.48% of the company's stock.

Institutional Trading of QuantumScape

A number of large investors have recently made changes to their positions in QS. Russell Investments Group Ltd. boosted its stake in QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock worth $25,000 after buying an additional 3,311 shares during the period. North Capital Inc. purchased a new position in QuantumScape during the second quarter worth $27,000. Heck Capital Advisors LLC purchased a new position in QuantumScape during the fourth quarter worth $26,000. PNC Financial Services Group Inc. boosted its stake in QuantumScape by 54.5% during the second quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company's stock worth $37,000 after buying an additional 1,963 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in QuantumScape during the fourth quarter worth $29,000. 29.87% of the stock is currently 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.

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