QuantumScape (NYSE:QS) Posts Quarterly Earnings Results, Meets Expectations

QuantumScape (NYSE:QS - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.21) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.21), Zacks reports. During the same period last year, the firm posted ($0.24) earnings per share.

QuantumScape Stock Performance

QS traded down $0.02 during trading on Friday, reaching $3.94. 7,445,624 shares of the company's stock were exchanged, compared to its average volume of 10,715,033. The company has a market capitalization of $2.15 billion, a P/E ratio of -4.19 and a beta of 4.37. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $4.26 and a 200 day moving average price of $4.91. QuantumScape has a fifty-two week low of $3.40 and a fifty-two week high of $9.52.

Insider Activity

In related news, CFO Kevin Hettrich sold 36,949 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $5.06, for a total transaction of $186,961.94. Following the completion of the transaction, the chief financial officer now owns 1,024,325 shares in the company, valued at $5,183,084.50. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 76,315 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $399,127.45. Following the completion of the sale, the insider now owns 1,010,523 shares in the company, valued at $5,285,035.29. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,147 shares of company stock worth $935,758. 12.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

QS has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of QuantumScape from $4.00 to $3.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Robert W. Baird decreased their target price on QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday. Evercore ISI reaffirmed a "hold" rating on shares of QuantumScape in a research report on Tuesday, February 25th. Finally, Truist Financial cut their price target on QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a report on Friday, February 14th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $5.26.

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.