QuantumScape (NYSE:QS) Stock Price Up 7.8%

QuantumScape Co. (NYSE:QS)’s share price traded up 7.8% during mid-day trading on Wednesday . The company traded as high as $6.33 and last traded at $6.20. 4,321,227 shares were traded during mid-day trading, a decline of 57% from the average session volume of 10,130,722 shares. The stock had previously closed at $5.75.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. HSBC started coverage on QuantumScape in a report on Monday, December 4th. They issued a “reduce” rating and a $4.70 price target on the stock. Robert W. Baird lifted their price target on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. William Blair started coverage on shares of QuantumScape in a research report on Monday, December 18th. They issued a “market perform” rating on the stock. Finally, Truist Financial raised their target price on shares of QuantumScape from $7.00 to $8.00 and gave the company a “hold” rating in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.71.

QuantumScape Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98. The business has a 50-day moving average of $6.50 and a 200 day moving average of $6.54.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same quarter last year, the business earned ($0.25) EPS. As a group, sell-side analysts forecast that QuantumScape Co. will post -0.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $6.75, for a total value of $467,835.75. Following the completion of the sale, the director now owns 292,644 shares of the company’s stock, valued at $1,975,347. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Mohit Singh sold 174,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $8.58, for a total transaction of $1,492,920.00. Following the completion of the transaction, the insider now owns 642,481 shares of the company’s stock, valued at $5,512,486.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $6.75, for a total transaction of $467,835.75. Following the completion of the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,975,347. The disclosure for this sale can be found here. Insiders have sold a total of 478,279 shares of company stock valued at $3,584,735 in the last quarter. 10.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Clear Street Markets LLC acquired a new stake in QuantumScape during the fourth quarter worth about $32,000. Tower Research Capital LLC TRC increased its position in QuantumScape by 49.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,142 shares of the company’s stock worth $34,000 after purchasing an additional 1,704 shares in the last quarter. Spire Wealth Management raised its holdings in QuantumScape by 39.0% in the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after buying an additional 1,500 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in QuantumScape during the second quarter valued at approximately $39,000. Finally, Level Financial Advisors Inc. purchased a new stake in QuantumScape during the third quarter worth approximately $42,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.