QuantumScape (NYSE:QS) Shares Up 0.7%

QuantumScape Co. (NYSE:QS) shares were up 0.7% during mid-day trading on Thursday . The company traded as high as $5.61 and last traded at $5.60. Approximately 1,617,421 shares changed hands during trading, a decline of 83% from the average daily volume of 9,442,639 shares. The stock had previously closed at $5.56.

Analysts Set New Price Targets

A number of equities analysts have issued reports on QS shares. Robert W. Baird raised their target price on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Truist Financial raised their price target on QuantumScape from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.71.

QuantumScape Stock Down 1.7 %

The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average price of $6.13 and a 200 day moving average price of $6.45.

QuantumScape (NYSE:QS) last posted its quarterly earnings results 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 period in the prior year, the business earned ($0.25) earnings per share. As a group, research analysts forecast that QuantumScape Co. will post -0.87 EPS for the current year.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $6.11, for a total value of $211,448.77. Following the completion of the transaction, the chief financial officer now owns 556,302 shares of the company’s stock, valued at approximately $3,399,005.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $6.11, for a total value of $211,448.77. Following the sale, the chief financial officer now owns 556,302 shares in the company, valued at approximately $3,399,005.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael O. Mccarthy III sold 21,840 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $6.17, for a total value of $134,752.80. Following the completion of the sale, the insider now owns 731,629 shares in the company, valued at approximately $4,514,150.93. 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 90 days. Corporate insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in shares of QuantumScape by 5.6% during the 2nd quarter. Principal Financial Group Inc. now owns 25,378 shares of the company’s stock valued at $218,000 after purchasing an additional 1,346 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of QuantumScape by 0.6% during the 4th quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock valued at $1,638,000 after purchasing an additional 1,481 shares in the last quarter. Spire Wealth Management boosted its position in shares of 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 purchasing an additional 1,500 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in QuantumScape by 10.3% in the first quarter. Ameriprise Financial Inc. now owns 16,789 shares of the company’s stock worth $137,000 after acquiring an additional 1,573 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in QuantumScape by 15.8% in the fourth quarter. Xponance Inc. now owns 12,050 shares of the company’s stock worth $84,000 after acquiring an additional 1,640 shares in the last quarter. 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.