QuantumScape (NYSE:QS) Trading 8.4% Higher - What's Next?

QuantumScape Co. (NYSE:QS - Get Free Report)'s stock price was up 8.4% during mid-day trading on Monday . The company traded as high as $4.43 and last traded at $4.48. Approximately 2,957,138 shares traded hands during trading, a decline of 74% from the average daily volume of 11,502,165 shares. The stock had previously closed at $4.13.

Analysts Set New Price Targets

QS has been the topic of a number of recent research reports. Truist Financial lowered their price objective on QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. The Goldman Sachs Group decreased their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $5.00 to $2.50 in a research report on Thursday, April 10th. Robert W. Baird decreased their target price on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Evercore ISI restated a "hold" rating on shares of QuantumScape in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, QuantumScape currently has a consensus rating of "Hold" and an average price target of $5.19.

QuantumScape Stock Performance

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -4.90 and a beta of 4.27. The company has a 50 day simple moving average of $3.98 and a 200 day simple moving average of $4.65.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same quarter in the prior year, the company posted ($0.24) earnings per share. As a group, equities research analysts forecast that QuantumScape Co. will post -0.82 EPS for the current year.

Insider Activity

In other news, Director Fritz Prinz sold 61,523 shares of QuantumScape stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total value of $242,400.62. Following the completion of the transaction, the director now directly owns 231,530 shares of the company's stock, valued at approximately $912,228.20. This trade represents a 20.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mohit Singh sold 71,428 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $4.41, for a total transaction of $314,997.48. Following the sale, the insider now directly owns 1,640,998 shares of the company's stock, valued at approximately $7,236,801.18. This trade represents a 4.17% decrease in their position. The disclosure for this sale can be found here. Insiders own 12.03% of the company's stock.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently made changes to their positions in QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 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 buying an additional 3,904,168 shares during the last quarter. NewEdge Advisors LLC grew its stake in QuantumScape by 50.4% in the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company's stock valued at $88,000 after buying an additional 7,111 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of QuantumScape by 21.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961,052 shares of the company's stock valued at $3,998,000 after purchasing an additional 170,173 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of QuantumScape during the 1st quarter valued at $321,000. Finally, Perbak Capital Partners LLP purchased a new stake in QuantumScape during the 1st quarter worth about $353,000. Institutional investors and hedge funds 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.