QuantumScape (NYSE:QS) Stock Price Up 1.6% - Here's Why

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price traded up 1.6% on Wednesday . The stock traded as high as $11.57 and last traded at $11.03. 33,951,859 shares changed hands during mid-day trading, an increase of 127% from the average session volume of 14,974,761 shares. The stock had previously closed at $10.85.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and reduced their price target for the company from $5.00 to $2.50 in a report on Thursday, April 10th. The Goldman Sachs Group reduced their price target on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a report on Monday, April 28th. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a report on Monday, July 7th. Finally, Robert W. Baird reduced their target price on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $5.19.

QuantumScape Price Performance

The company's fifty day moving average is $5.42 and its 200 day moving average is $4.91. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of -12.47 and a beta of 4.42. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period in the previous year, the company earned ($0.24) EPS. On average, equities research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current year.

Insiders Place Their Bets

In other QuantumScape news, CTO Timothy Holme sold 11,906 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $7.02, for a total transaction of $83,580.12. Following the sale, the chief technology officer directly owned 1,661,928 shares of the company's stock, valued at approximately $11,666,734.56. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Fritz Prinz sold 864,708 shares of the company's stock in a transaction 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 sale, the director directly owned 81,364 shares in the company, valued at $571,175.28. This trade represents a 91.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,589,468 shares of company stock valued at $18,114,411. 12.03% of the stock is currently owned by corporate insiders.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently added to or reduced their stakes in QS. Signaturefd LLC raised its position in shares of QuantumScape by 2,086.1% in the first 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 bought a new position in QuantumScape during the fourth quarter worth about $26,000. Federated Hermes Inc. increased its position in QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after acquiring an additional 5,438 shares during the period. Hollencrest Capital Management increased its position in QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after acquiring an additional 5,000 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in QuantumScape during the fourth quarter worth about $29,000. 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.