QuantumScape (NYSE:QS) Trading Up 3%

QuantumScape Co. (NYSE:QS) shares traded up 3% during mid-day trading on Thursday . The company traded as high as $9.25 and last traded at $9.19. 4,675,451 shares were traded during mid-day trading, a decline of 49% from the average session volume of 9,194,791 shares. The stock had previously closed at $8.92.

Analysts Set New Price Targets

Several research analysts have commented on QS shares. UBS Group dropped their price objective on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Truist Financial dropped their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, QuantumScape currently has an average rating of “Hold” and a consensus price target of $6.45.

QuantumScape Stock Down 3.0 %

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 firm has a 50-day moving average price of $5.84 and a two-hundred day moving average price of $6.20.

QuantumScape (NYSE:QS) last posted its quarterly 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). On average, sell-side analysts anticipate that QuantumScape Co. will post -0.89 earnings per share for the current year.

Insider Activity

In related news, 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 owns 1,196,905 shares of the company’s stock, valued at $8,426,211.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Michael O. Mccarthy III sold 22,554 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total value of $129,008.88. Following the completion of the sale, the insider now owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mohit Singh sold 173,224 shares of QuantumScape stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the transaction, the insider now directly owns 1,196,905 shares in the company, valued at $8,426,211.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 847,562 shares of company stock valued at $4,869,703. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

A number of hedge funds have recently bought and sold shares of QS. Vanguard Group Inc. grew its position in QuantumScape by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after purchasing an additional 5,483,319 shares during the period. Whittier Trust Co. purchased a new position in QuantumScape during the fourth quarter valued at approximately $326,000. Raymond James & Associates lifted its holdings in QuantumScape by 14.0% in the fourth quarter. Raymond James & Associates now owns 25,786 shares of the company’s stock valued at $179,000 after acquiring an additional 3,158 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in QuantumScape by 6.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 301,079 shares of the company’s stock worth $2,092,000 after purchasing an additional 17,470 shares in the last quarter. Finally, Armor Investment Advisors LLC grew its stake in shares of QuantumScape by 25.1% during the 4th quarter. Armor Investment Advisors LLC now owns 55,986 shares of the company’s stock worth $389,000 after purchasing an additional 11,246 shares during the period. Hedge funds and other 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.