QuantumScape (NYSE:QS) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

QuantumScape (NYSE:QS) posted its earnings results on Wednesday. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02), Briefing.com reports. During the same quarter in the prior year, the business earned ($0.23) earnings per share.

QuantumScape Price Performance

Shares of QS stock traded down $0.30 during trading on Friday, hitting $6.20. The company had a trading volume of 20,607,602 shares, compared to its average volume of 5,092,081. The stock’s 50-day moving average price is $5.68 and its 200 day moving average price is $5.81. The firm has a market capitalization of $3.14 billion, a P/E ratio of -6.52 and a beta of 4.58. QuantumScape has a one year low of $4.67 and a one year high of $10.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66.

Analyst Ratings Changes

QS has been the topic of several research reports. Truist Financial reaffirmed a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research started coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.14.

Insider Activity

In other news, insider Michael O. Mccarthy III sold 222,476 shares of QuantumScape stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total value of $1,463,892.08. Following the transaction, the insider now owns 1,283,847 shares in the company, valued at approximately $8,447,713.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total transaction of $76,931.68. Following the sale, the director now owns 254,103 shares in the company, valued at $1,514,453.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael O. Mccarthy III sold 222,476 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total value of $1,463,892.08. Following the sale, the insider now owns 1,283,847 shares in the company, valued at $8,447,713.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,126,067 shares of company stock worth $6,659,475. Insiders own 12.03% 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.