QuantumScape (NYSE:QS) Shares Up 1.1%

QuantumScape Co. (NYSE:QS)’s share price shot up 1.1% during trading on Friday . The stock traded as high as $5.84 and last traded at $5.64. 1,971,667 shares were traded during mid-day trading, a decline of 78% from the average session volume of 9,130,758 shares. The stock had previously closed at $5.58.

Wall Street Analyst Weigh In

A number of analysts have weighed in on QS shares. Truist Financial cut their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. UBS Group cut their price target on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Robert W. Baird upped their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.09.

QuantumScape Stock Performance

The stock has a market cap of $2.83 billion, a PE ratio of -5.94 and a beta of 4.74. The firm’s 50-day moving average is $5.84 and its 200 day moving average is $6.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 10.38.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same quarter in the prior year, the business posted ($0.25) EPS. As a group, research analysts anticipate that QuantumScape Co. will post -0.95 EPS for the current year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now directly owns 292,644 shares in the company, valued at approximately $1,966,567.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the completion of the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $6.11, for a total transaction of $211,448.77. Following the completion of the sale, the chief financial officer now directly owns 556,302 shares in the company, valued at approximately $3,399,005.22. The disclosure for this sale can be found here. Insiders sold a total of 194,970 shares of company stock valued at $1,250,775 in the last ninety days. Insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently added to or reduced their stakes in QS. AE Wealth Management LLC purchased a new stake in shares of QuantumScape in the third quarter valued at approximately $74,000. SG Americas Securities LLC boosted its position in shares of QuantumScape by 67.8% during the 3rd quarter. SG Americas Securities LLC now owns 67,842 shares of the company’s stock worth $454,000 after purchasing an additional 27,412 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of QuantumScape by 5.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 357,782 shares of the company’s stock worth $2,394,000 after purchasing an additional 19,431 shares in the last quarter. Xponance Inc. purchased a new position in shares of QuantumScape in the 3rd quarter valued at about $70,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of QuantumScape by 31.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 283,609 shares of the company’s stock valued at $1,897,000 after purchasing an additional 68,431 shares during the period. Institutional investors and hedge funds 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.