QuantumScape (NYSE:QS) Trading Up 10.5% - Here's Why

Key Points

• QuantumScape's share price increased by 10.5%, trading at $11.33, but experienced a 22% decline in trading volume compared to its average.
• Analysts have mixed opinions, with six holding a "Hold" rating and a consensus price target of $5.88, while Robert W. Baird raised their target to $11.00.
• Insider selling has been significant, with key personnel offloading a combined total of 4.4 million shares worth approximately $38.8 million over the past three months.

QuantumScape Corporation (NYSE:QS - Get Free Report)'s stock price rose 10.5% during trading on Thursday . The company traded as high as $11.26 and last traded at $11.33. Approximately 19,254,845 shares traded hands during trading, a decline of 22% from the average daily volume of 24,680,672 shares. The stock had previously closed at $10.26.

Analysts Set New Price Targets

QS has been the subject of a number of analyst reports. TD Cowen raised shares of QuantumScape to a "hold" rating in a report on Monday, July 7th. Robert W. Baird raised 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, July 24th. Six research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, QuantumScape currently has an average rating of "Reduce" and a consensus price target of $5.88.

QuantumScape Stock Performance

The firm's 50-day moving average price is $9.62 and its 200 day moving average price is $6.33. 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 company has a market cap of $7.60 billion, a price-to-earnings ratio of -15.62 and a beta of 4.42.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $36.67 million for the quarter. During the same period last year, the company posted ($0.25) EPS. On average, sell-side analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 500,000 shares of QuantumScape stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $11.60, for a total value of $5,800,000.00. Following the transaction, the insider owned 1,467,183 shares of the company's stock, valued at approximately $17,019,322.80. The trade was a 25.42% 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 929,813 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the transaction, the director owned 161,343 shares of the company's stock, valued at $1,874,805.66. The trade was a 85.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,406,051 shares of company stock valued at $38,768,188. 5.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors have recently modified their holdings of QS. Captrust Financial Advisors bought a new stake in shares of QuantumScape in the fourth quarter valued at about $156,000. Cetera Investment Advisers lifted its holdings in shares of QuantumScape by 17.3% in the fourth quarter. Cetera Investment Advisers now owns 49,944 shares of the company's stock worth $259,000 after acquiring an additional 7,380 shares during the last quarter. Man Group plc acquired a new position in shares of QuantumScape in the fourth quarter valued at approximately $252,000. Tidal Investments LLC increased its stake in shares of QuantumScape by 13.0% in the fourth quarter. Tidal Investments LLC now owns 138,089 shares of the company's stock valued at $717,000 after buying an additional 15,865 shares during the period. Finally, Heck Capital Advisors LLC acquired a new position in shares of QuantumScape in the fourth quarter valued at approximately $26,000. 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.