QuantumScape (NYSE:QS) Shares Up 0.2%

QuantumScape Co. (NYSE:QS) shares shot up 0.2% during trading on Wednesday . The stock traded as high as $9.51 and last traded at $9.16. 9,668,955 shares were traded during mid-day trading, an increase of 6% from the average session volume of 9,105,229 shares. The stock had previously closed at $9.14.

Analyst Ratings Changes

Several brokerages recently issued reports on QS. Truist Financial reduced their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, April 22nd. UBS Group reduced their price objective on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.67.

QuantumScape Price Performance

The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of -9.54 and a beta of 4.62. The company has a quick ratio of 10.38, a current ratio of 10.38 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $5.65 and a 200 day simple moving average of $6.15.

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

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 45,848 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $5.61, for a total value of $257,207.28. Following the completion of the transaction, the chief financial officer now owns 1,145,821 shares of the company’s stock, valued at $6,428,055.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other QuantumScape news, CFO Kevin Hettrich sold 45,848 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $5.61, for a total transaction of $257,207.28. Following the transaction, the chief financial officer now owns 1,145,821 shares of the company’s stock, valued at approximately $6,428,055.81. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mohit Singh sold 173,224 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $7.04, for a total value of $1,219,496.96. Following the transaction, the insider now directly owns 1,196,905 shares in the company, valued at approximately $8,426,211.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 847,562 shares of company stock valued at $4,869,703. Insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

A number of institutional investors and hedge funds have recently made changes to their positions in QS. Vanguard Group Inc. increased its position in QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after acquiring an additional 656,646 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in QuantumScape by 240.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after acquiring an additional 3,004,964 shares during the period. Baillie Gifford & Co. increased its position in QuantumScape by 10.3% in the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after acquiring an additional 251,186 shares during the period. Norges Bank acquired a new stake in QuantumScape in the 4th quarter valued at approximately $18,482,000. Finally, Board of Trustees of The Leland Stanford Junior University increased its position in QuantumScape by 5.2% in the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock valued at $18,144,000 after acquiring an additional 129,239 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.