QuantumScape (NYSE:QS) Sees Large Volume Increase – Here’s What Happened

Shares of QuantumScape Corporation (NYSE:QS) saw an uptick in trading volume on Wednesday . 12,385,795 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 16,091,705 shares.The stock last traded at $7.9850 and had previously closed at $8.42.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QS. Morgan Stanley decreased their price objective on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. TD Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on QuantumScape in a research report on Thursday, February 12th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and decreased their price objective for the company from $10.50 to $8.30 in a research report on Wednesday, February 18th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $11.13.

QuantumScape Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The company has a 50-day moving average of $6.88 and a 200-day moving average of $9.78. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of -10.41 and a beta of 2.57.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. During the same period last year, the company posted ($0.21) EPS. As a group, research analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Timothy Holme sold 127,077 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $7.10, for a total transaction of $902,246.70. Following the completion of the transaction, the chief technology officer owned 1,122,348 shares in the company, valued at approximately $7,968,670.80. This represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 45,000 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $6.73, for a total transaction of $302,850.00. Following the transaction, the insider owned 954,219 shares of the company’s stock, valued at $6,421,893.87. The trade was a 4.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 716,925 shares of company stock worth $4,877,077. 5.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in QuantumScape by 134.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,735,035 shares of the company’s stock worth $36,570,000 after purchasing an additional 3,290,942 shares during the last quarter. Ascent Wealth Partners LLC boosted its holdings in QuantumScape by 20.8% during the first quarter. Ascent Wealth Partners LLC now owns 18,739 shares of the company’s stock worth $120,000 after purchasing an additional 3,232 shares during the last quarter. Independent Financial Group LLC acquired a new position in QuantumScape during the first quarter worth $129,000. Wealthfront Advisers LLC boosted its holdings in QuantumScape by 99.4% during the first quarter. Wealthfront Advisers LLC now owns 101,593 shares of the company’s stock worth $648,000 after purchasing an additional 50,640 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in shares of QuantumScape by 24.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 204,391 shares of the company’s stock valued at $1,304,000 after buying an additional 40,230 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.