QuantumScape (NYSE:QS) Trading 11.3% Higher – What’s Next?

QuantumScape Corporation (NYSE:QS)’s stock price traded up 11.3% during trading on Friday . The stock traded as high as $16.49 and last traded at $15.91. 76,126,555 shares traded hands during trading, an increase of 186% from the average session volume of 26,646,596 shares. The stock had previously closed at $14.30.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Robert W. Baird upped their price target on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. TD Cowen upgraded QuantumScape to a “hold” rating in a research note on Monday, July 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a research note on Saturday, September 27th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $5.88.

QuantumScape Price Performance

The company has a 50-day moving average price of $9.81 and a two-hundred day moving average price of $6.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. The company has a market cap of $9.01 billion, a PE ratio of -18.50 and a beta of 4.85.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same period in the prior year, the company earned ($0.25) earnings per share. Sell-side analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In related news, CTO Timothy Holme sold 176,352 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $7.55, for a total value of $1,331,457.60. Following the completion of the transaction, the chief technology officer owned 1,445,304 shares of the company’s stock, valued at approximately $10,912,045.20. This represents a 10.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey B. Straubel sold 157,180 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $9.20, for a total value of $1,446,056.00. Following the completion of the transaction, the director directly owned 348,146 shares of the company’s stock, valued at $3,202,943.20. This represents a 31.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,848,276 shares of company stock valued at $31,025,735 in the last three months. 5.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. M&T Bank Corp lifted its holdings in QuantumScape by 97.2% during the 1st quarter. M&T Bank Corp now owns 39,964 shares of the company’s stock worth $166,000 after buying an additional 19,694 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in QuantumScape by 362.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company’s stock worth $1,577,000 after buying an additional 297,097 shares during the last quarter. Nuveen LLC bought a new position in QuantumScape during the 1st quarter worth approximately $2,819,000. Perbak Capital Partners LLP bought a new position in QuantumScape during the 1st quarter worth approximately $353,000. Finally, CacheTech Inc. bought a new position in QuantumScape during the 1st quarter worth approximately $130,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Company Profile

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.