QuantumScape (NYSE:QS) Shares Up 1.1%

QuantumScape Co. (NYSE:QS)’s share price rose 1.1% during trading on Friday . The stock traded as high as $5.84 and last traded at $5.64. Approximately 1,971,667 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 9,130,758 shares. The stock had previously closed at $5.58.

Analysts Set New Price Targets

Several analysts have weighed in on QS shares. Truist Financial dropped their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. UBS Group reduced their target price on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, Robert W. Baird boosted their price target on QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.09.

QuantumScape Stock Performance

The firm’s fifty day simple moving average is $5.84 and its 200 day simple moving average is $6.40. The company has a market capitalization of $2.83 billion, a PE ratio of -5.88 and a beta of 4.74. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.38 and a quick ratio of 18.98.

QuantumScape (NYSE:QS) last issued its 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 previous year, the firm posted ($0.25) earnings per share. On average, research analysts predict that QuantumScape Co. will post -0.95 EPS for the current year.

Insider Activity

In related news, Director Jeffrey B. Straubel sold 69,309 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the sale, the director now directly owns 292,644 shares of the company’s stock, valued at $1,966,567.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the completion of the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, 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 three months. 10.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently added to or reduced their stakes in QS. New York State Common Retirement Fund lifted its position in shares of QuantumScape by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock valued at $1,638,000 after acquiring an additional 1,481 shares in the last quarter. Spire Wealth Management boosted its stake in QuantumScape by 39.0% during the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares during the last quarter. Xponance Inc. boosted its stake in QuantumScape by 15.8% during the 4th quarter. Xponance Inc. now owns 12,050 shares of the company’s stock worth $84,000 after purchasing an additional 1,640 shares during the last quarter. CWM LLC grew its holdings in shares of QuantumScape by 31.1% during the third quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after buying an additional 1,794 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. raised its position in shares of QuantumScape by 37.3% in the third quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock valued at $45,000 after buying an additional 1,835 shares during the last quarter. 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.