QuantumScape (NYSE:QS) Trading 4.8% Higher

QuantumScape Co. (NYSE:QS)’s share price traded up 4.8% on Thursday . The company traded as high as $5.08 and last traded at $5.06. 4,010,857 shares traded hands during trading, a decline of 17% from the average session volume of 4,821,196 shares. The stock had previously closed at $4.83.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial dropped their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, April 22nd. UBS Group dropped their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.67.

QuantumScape Stock Up 4.8 %

The company has a quick ratio of 10.38, a current ratio of 10.38 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $5.46 and its 200 day simple moving average is $6.21. The firm has a market capitalization of $2.53 billion, a PE ratio of -5.27 and a beta of 4.62.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, April 24th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). Analysts anticipate that QuantumScape Co. will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 25,816 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 267,011 shares of the company’s stock, valued at $1,300,343.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jagdeep Singh sold 192,280 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $5.85, for a total transaction of $1,124,838.00. Following the completion of the sale, the director now owns 2,809,253 shares of the company’s stock, valued at $16,434,130.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fritz Prinz sold 25,816 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.87, for a total transaction of $125,723.92. Following the sale, the director now directly owns 267,011 shares of the company’s stock, valued at approximately $1,300,343.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 516,675 shares of company stock valued at $2,894,443. Corporate insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. increased its position in shares of QuantumScape by 97.7% during the third quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after acquiring an additional 51,934 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of QuantumScape by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock worth $77,000 after acquiring an additional 2,861 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of QuantumScape by 26.4% during the 4th quarter. Victory Capital Management Inc. now owns 43,752 shares of the company’s stock worth $304,000 after acquiring an additional 9,135 shares during the last quarter. Scotia Capital Inc. purchased a new position in shares of QuantumScape during the 3rd quarter worth $95,000. Finally, HBK Sorce Advisory LLC boosted its stake in shares of QuantumScape by 11.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock worth $150,000 after acquiring an additional 2,264 shares during the last quarter. 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.