QuantumScape (NYSE:QS) Shares Up 1.4%

QuantumScape Co. (NYSE:QS)’s stock price shot up 1.4% during mid-day trading on Friday . The company traded as high as $5.98 and last traded at $5.98. 1,227,579 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 9,775,287 shares. The stock had previously closed at $5.90.

Analyst Ratings Changes

A number of research firms have recently commented on QS. Truist Financial upped their price objective on shares of QuantumScape from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Robert W. Baird upped their price target on shares of QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, William Blair initiated coverage on shares of QuantumScape in a report on Monday, December 18th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, QuantumScape currently has an average rating of “Hold” and an average target price of $6.71.

QuantumScape Stock Up 1.4 %

The firm’s 50-day moving average price is $6.41 and its 200-day moving average price is $6.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.98 and a quick ratio of 18.98. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -6.23 and a beta of 4.76.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period in the previous year, the firm earned ($0.25) EPS. Sell-side analysts forecast that QuantumScape Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.11, for a total value of $211,448.77. Following the completion of the transaction, the chief financial officer now owns 556,302 shares in the company, valued at approximately $3,399,005.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Michael O. Mccarthy III sold 21,840 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the completion of the sale, the insider now directly owns 731,629 shares in the company, valued at $4,514,150.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $6.11, for a total value of $211,448.77. Following the completion of the transaction, the chief financial officer now owns 556,302 shares in the company, valued at approximately $3,399,005.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,363 shares of company stock worth $1,038,288. 10.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of QuantumScape by 23.3% during the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after buying an additional 5,483,319 shares in the last quarter. Norges Bank bought a new position in QuantumScape during the 4th quarter valued at $18,482,000. Morgan Stanley grew its holdings in QuantumScape by 52.1% during the 3rd quarter. Morgan Stanley now owns 4,310,857 shares of the company’s stock worth $28,840,000 after acquiring an additional 1,476,799 shares in the last quarter. BlackRock Inc. increased its position in shares of QuantumScape by 9.7% in the 2nd quarter. BlackRock Inc. now owns 13,035,638 shares of the company’s stock worth $104,155,000 after purchasing an additional 1,148,137 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of QuantumScape by 53.6% in the 3rd quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock worth $17,268,000 after purchasing an additional 900,249 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other 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.