QuantumScape (NYSE:QS) Stock Price Up 29.2%

QuantumScape Co. (NYSE:QS)’s share price rose 29.2% during trading on Thursday . The stock traded as high as $7.25 and last traded at $6.99. Approximately 44,405,457 shares traded hands during trading, an increase of 449% from the average daily volume of 8,092,476 shares. The stock had previously closed at $5.41.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QS. Truist Financial lowered their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. UBS Group lowered their price target 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.67.

QuantumScape Trading Up 30.9 %

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 business’s 50 day moving average price is $5.44 and its 200-day moving average price is $6.13. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -7.28 and a beta of 4.62.

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

Insider Activity at QuantumScape

In related news, insider Michael O. Mccarthy III sold 22,554 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total value of $129,008.88. Following the sale, the insider now owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jagdeep Singh sold 113,264 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $5.04, for a total value of $570,850.56. Following the completion of the sale, the director now owns 2,809,253 shares in the company, valued at $14,158,635.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael O. Mccarthy III sold 22,554 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total transaction of $129,008.88. Following the completion of the sale, the insider now owns 1,207,500 shares in the company, valued at $6,906,900. The disclosure for this sale can be found here. Insiders sold 674,338 shares of company stock worth $3,650,206 in the last 90 days. 10.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Large investors have recently modified their holdings of the stock. Spire Wealth Management raised its stake 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 purchasing an additional 1,500 shares during the period. CWM LLC lifted its stake in QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after acquiring an additional 2,556 shares in the last quarter. Mather Group LLC. purchased a new stake in QuantumScape in the 2nd quarter worth about $36,000. International Assets Investment Management LLC grew its stake in QuantumScape by 595.1% during the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after acquiring an additional 5,296 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of QuantumScape by 57.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock valued at $56,000 after purchasing an additional 2,954 shares during the period. 29.87% of the stock is owned by institutional investors.

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.