QuantumScape (NYSE:QS) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

QuantumScape (NYSE:QS) announced its quarterly earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03, Zacks reports.

QuantumScape Price Performance

NYSE QS remained flat at $3.98 during trading hours on Wednesday. 14,549,168 shares of the company were exchanged, compared to its average volume of 18,398,664. The company’s 50 day simple moving average is $5.12 and its two-hundred day simple moving average is $6.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. QuantumScape has a 1-year low of $3.80 and a 1-year high of $18.56. The firm has a market capitalization of $2.46 billion, a PE ratio of -4.91 and a beta of 2.83.

Analysts Set New Price Targets

Several brokerages have weighed in on QS. TD Cowen dropped their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Friday, July 24th. Morgan Stanley reduced their target price on QuantumScape from $8.50 to $4.50 and set an “equal weight” rating on the stock in a report on Thursday, October 15th. Five investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, QuantumScape has an average rating of “Hold” and a consensus target price of $8.80.

Insider Buying and Selling at QuantumScape

In other news, CTO Timothy Holme sold 45,000 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $4.54, for a total value of $204,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 294,599 shares of company stock valued at $1,473,271 over the last quarter. Insiders own 3.93% of the company’s stock.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries. Its technology is designed to replace the liquid or gel electrolytes used in conventional lithium-ion batteries with a solid-state separator, with the goal of improving energy density, charging performance, safety and operating range for electric vehicles.

The company is developing prototype battery cells and related manufacturing processes for automotive applications.