QuantumScape (NYSE:QS) Trading Up 1.2%

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

Analysts Set New Price Targets

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

QuantumScape Price Performance

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

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, April 24th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). As a group, equities analysts predict that QuantumScape Co. will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 2,809,253 shares of the company’s stock, valued at $15,029,503.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Kevin Hettrich sold 45,848 shares of QuantumScape stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $5.61, for a total value of $257,207.28. Following the sale, the chief financial officer now directly owns 1,145,821 shares of the company’s stock, valued at $6,428,055.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction that occurred on 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 transaction, the director now owns 2,809,253 shares in the company, valued at approximately $15,029,503.55. The disclosure for this sale can be found here. Insiders have sold a total of 490,859 shares of company stock valued at $2,768,719 over the last ninety days. Company insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of QS. Spire Wealth Management raised its holdings in shares of QuantumScape by 39.0% in 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 during the period. International Assets Investment Management LLC raised its holdings in shares of QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after buying an additional 5,296 shares during the period. Tower Research Capital LLC TRC grew its stake in QuantumScape by 57.4% during the 4th 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 acquired a new position in QuantumScape during the 4th quarter worth $56,000. Finally, Evergreen Wealth Solutions LLC acquired a new position in QuantumScape during the 1st quarter worth $64,000. Hedge funds and other 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.