QuantumScape (NYSE:QS) Stock Price Up 13.2%

Shares of QuantumScape Co. (NYSE:QS) were up 13.2% during trading on Friday . The stock traded as high as $8.05 and last traded at $7.99. Approximately 18,875,412 shares changed hands during mid-day trading, an increase of 122% from the average daily volume of 8,486,376 shares. The stock had previously closed at $7.06.

Analyst Ratings Changes

Several research firms have recently weighed in on QS. UBS Group lowered their price objective on QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Truist Financial dropped their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus target price of $6.67.

QuantumScape Price Performance

The company’s 50 day simple moving average is $5.47 and its 200 day simple moving average is $6.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.38 and a quick ratio of 10.38. The stock has a market cap of $4.11 billion, a P/E ratio of -8.32 and a beta of 4.62.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, April 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). As a group, equities analysts forecast that QuantumScape Co. will post -0.89 earnings per share for the current year.

Insider Activity

In other news, Director Fritz Prinz sold 25,816 shares of QuantumScape stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.87, for a total value of $125,723.92. Following the sale, the director now directly owns 267,011 shares in the company, valued at $1,300,343.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jagdeep Singh sold 79,006 shares of QuantumScape stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $5.03, for a total value of $397,400.18. Following the completion of the transaction, the director now owns 2,809,253 shares of the company’s stock, valued at approximately $14,130,542.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Fritz Prinz sold 25,816 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.87, for a total transaction of $125,723.92. Following the completion of the sale, the director now directly owns 267,011 shares in the company, valued at $1,300,343.57. The disclosure for this sale can be found here. Insiders have sold a total of 674,338 shares of company stock worth $3,650,206 over the last three months. Corporate insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QS. Spire Wealth Management grew its position in shares of 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 purchasing an additional 1,500 shares during the last quarter. International Assets Investment Management LLC grew its holdings in QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after buying an additional 5,296 shares in the last quarter. CWM LLC increased its position in QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the period. Mather Group LLC. acquired a new stake in shares of QuantumScape during the second quarter worth $36,000. Finally, StepStone Group LP bought a new stake in shares of QuantumScape in the fourth quarter valued at about $56,000. 29.87% of the stock is owned by 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.