QuantumScape (NYSE:QS) Issues Earnings Results

QuantumScape (NYSE:QS) issued its quarterly earnings data on Wednesday. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02), Briefing.com reports. During the same period last year, the business posted ($0.23) EPS.

QuantumScape Price Performance

Shares of QS traded down $0.32 during trading hours on Friday, hitting $6.18. 10,174,373 shares of the stock were exchanged, compared to its average volume of 8,587,129. The stock’s 50-day moving average price is $5.68 and its two-hundred day moving average price is $5.81. QuantumScape has a 12-month low of $4.67 and a 12-month high of $10.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -6.53 and a beta of 4.58.

Insider Buying and Selling at QuantumScape

In other news, CFO Kevin Hettrich sold 58,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $5.78, for a total transaction of $335,240.00. Following the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $6,202,067.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Michael O. Mccarthy III sold 222,476 shares of QuantumScape stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the sale, the insider now owns 1,283,847 shares of the company’s stock, valued at approximately $8,447,713.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Hettrich sold 58,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $5.78, for a total value of $335,240.00. Following the completion of the transaction, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at $6,202,067.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,126,067 shares of company stock worth $6,659,475. Corporate insiders own 10.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on QS shares. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Truist Financial reissued a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, QuantumScape has a consensus rating of “Hold” and an average target price of $6.14.

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.