QuantumScape (NYSE:QS) Posts Earnings Results, Misses Expectations By $0.01 EPS

QuantumScape (NYSE:QS) issued its earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01), Zacks reports.

QuantumScape Stock Performance

QS traded up $0.08 during trading hours on Wednesday, hitting $4.84. 21,125,258 shares of the stock were exchanged, compared to its average volume of 15,432,533. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -5.09 and a beta of 4.45. The stock has a 50-day simple moving average of $5.26 and a 200-day simple moving average of $5.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. QuantumScape has a 12 month low of $4.65 and a 12 month high of $9.52.

Insider Transactions at QuantumScape

In other news, CFO Kevin Hettrich sold 36,949 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $5.06, for a total transaction of $186,961.94. Following the sale, the chief financial officer now directly owns 1,024,325 shares in the company, valued at approximately $5,183,084.50. This represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now directly owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 573,409 shares of company stock worth $3,090,581. 12.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Truist Financial restated a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, QuantumScape currently has an average rating of “Hold” and a consensus target price of $6.26.

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.