QuantumScape (NYSE:QS) Trading Up 1.2%

QuantumScape Co. (NYSE:QS) shares were up 1.2% during mid-day trading on Wednesday . The company traded as high as $4.98 and last traded at $4.89. Approximately 1,768,907 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 7,978,957 shares. The stock had previously closed at $4.83.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on QS shares. UBS Group cut their target price on QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Truist Financial cut their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Two equities research 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.67.

QuantumScape Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38. The stock has a 50 day moving average price of $5.50 and a 200 day moving average price of $6.27.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, April 24th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). As a group, sell-side analysts forecast that QuantumScape Co. will post -0.89 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In related news, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $5.35, for a total value of $1,028,644.50. Following the completion of the sale, the director now owns 2,809,253 shares of the company’s stock, valued at approximately $15,029,503.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $5.35, for a total value of $1,028,644.50. Following the completion of the sale, the director now owns 2,809,253 shares of the company’s stock, valued at approximately $15,029,503.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the completion of the sale, the insider now directly owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The disclosure for this sale can be found here. Insiders have sold 490,859 shares of company stock worth $2,768,719 in the last ninety days. Company insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management grew its holdings in QuantumScape by 39.0% during the 4th 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 in the last quarter. International Assets Investment Management LLC grew its holdings in shares of QuantumScape by 595.1% during the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after purchasing an additional 5,296 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of QuantumScape by 57.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock worth $56,000 after purchasing an additional 2,954 shares in the last quarter. StepStone Group LP purchased a new position in shares of QuantumScape during the fourth quarter worth about $56,000. Finally, Evergreen Wealth Solutions LLC purchased a new position in shares of QuantumScape during the first quarter worth about $64,000. Hedge funds and other institutional investors own 29.87% 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.