QuantumScape (NYSE:QS) Stock Price Up 2.7%

QuantumScape Co. (NYSE:QS) shares were up 2.7% on Wednesday . The stock traded as high as $6.10 and last traded at $6.03. Approximately 1,421,447 shares traded hands during trading, a decline of 85% from the average daily volume of 9,443,107 shares. The stock had previously closed at $5.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial restated a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Monday. UBS Group reduced their price target on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, QuantumScape has an average rating of “Hold” and an average target price of $6.62.

QuantumScape Stock Performance

The company has a 50 day simple moving average of $6.07 and a 200-day simple moving average of $6.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 10.38. The stock has a market cap of $2.89 billion, a P/E ratio of -6.28 and a beta of 4.62.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same period in the prior year, the company posted ($0.26) earnings per share. On average, equities analysts expect that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mohit Singh sold 173,224 shares of QuantumScape stock in a transaction dated 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 in the company, valued at $8,426,211.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Mohit Singh sold 173,224 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly 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 is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 45,848 shares of the firm’s 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 sale, the chief financial officer now directly owns 1,145,821 shares in the company, valued at $6,428,055.81. The disclosure for this sale can be found here. Insiders sold 1,070,038 shares of company stock valued at $6,333,595 over the last three months. Insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its position in shares of QuantumScape by 26.4% in the 4th quarter. Victory Capital Management Inc. now owns 43,752 shares of the company’s stock worth $304,000 after buying an additional 9,135 shares during the period. HBK Sorce Advisory LLC boosted its position in shares of QuantumScape by 11.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock worth $150,000 after purchasing an additional 2,264 shares in the last quarter. Simplicity Solutions LLC purchased a new stake in shares of QuantumScape in the 4th quarter worth approximately $719,000. HighPoint Advisor Group LLC bought a new position in QuantumScape during the 4th quarter valued at approximately $97,000. Finally, Vanguard Group Inc. raised its stake in QuantumScape by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock valued at $207,306,000 after buying an additional 796,723 shares during the last quarter. 29.87% of the stock is currently 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.