QuantumScape (NYSE:QS) Trading 7.1% Higher

QuantumScape Co. (NYSE:QS) traded up 7.1% during trading on Friday . The company traded as high as $6.22 and last traded at $6.21. 3,206,767 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 8,544,389 shares. The stock had previously closed at $5.80.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Truist Financial restated a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research began coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.95.

QuantumScape Stock Up 3.6 %

The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -6.26 and a beta of 4.59. The firm has a 50-day moving average of $6.01 and a two-hundred day moving average of $5.86.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period last year, the business earned ($0.26) earnings per share. As a group, sell-side analysts predict that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Mohit Singh sold 173,224 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the completion of the transaction, the insider now owns 1,196,905 shares of the company’s stock, valued at approximately $8,426,211.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the completion of the sale, the director now owns 254,103 shares in the company, valued at approximately $1,514,453.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mohit Singh sold 173,224 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $7.04, for a total value of $1,219,496.96. Following the completion of the sale, the insider now owns 1,196,905 shares of the company’s stock, valued at approximately $8,426,211.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,290,500 shares of company stock valued at $7,719,701. Insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

A number of hedge funds have recently modified their holdings of the company. Centaurus Financial Inc. bought a new stake in shares of QuantumScape in the 2nd quarter worth approximately $52,000. Sanctuary Advisors LLC bought a new position in shares of QuantumScape during the 2nd quarter worth approximately $680,000. Granite Bay Wealth Management LLC bought a new position in shares of QuantumScape during the 2nd quarter worth approximately $76,000. Algert Global LLC bought a new position in shares of QuantumScape during the 2nd quarter worth approximately $175,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of QuantumScape during the 2nd quarter worth approximately $644,000. Institutional investors own 29.87% of the company’s stock.

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.