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

QuantumScape (NYSE:QS) posted its quarterly earnings data on Wednesday. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01), Zacks reports.

QuantumScape Trading Up 1.7 %

Shares of QuantumScape stock traded up $0.08 on Wednesday, reaching $4.84. 21,125,258 shares of the company were exchanged, compared to its average volume of 15,432,533. QuantumScape has a fifty-two week low of $4.65 and a fifty-two week high of $9.52. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -5.09 and a beta of 4.45. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a fifty day moving average price of $5.26 and a 200-day moving average price of $5.45.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 36,949 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the sale, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 308,097 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the completion of the transaction, the director now directly owns 2,563,767 shares of the company’s stock, valued at $13,587,965.10. This represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 573,409 shares of company stock worth $3,090,581 in the last quarter. 12.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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