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

QuantumScape (NYSE:QS - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.01), Zacks reports.

QuantumScape Trading Up 1.6 %

QuantumScape stock traded up $0.09 during mid-day trading on Friday, hitting $5.26. The company's stock had a trading volume of 15,380,043 shares, compared to its average volume of 12,386,714. QuantumScape has a one year low of $4.65 and a one year high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a 50 day moving average of $5.27 and a 200-day moving average of $5.43. The stock has a market cap of $2.69 billion, a PE ratio of -5.53 and a beta of 4.45.

Analyst Upgrades and Downgrades

A number of analysts recently commented on QS shares. HSBC raised QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price target for the company in a research note on Tuesday, November 19th. Hsbc Global Res raised QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. Finally, Truist Financial lowered their price target on QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $6.06.

Insider Buying and Selling

In other QuantumScape news, 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 value of $1,632,914.10. Following the sale, the director now directly owns 2,563,767 shares of the company's stock, valued at approximately $13,587,965.10. This trade represents a 10.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the transaction, the director now owns 241,195 shares in the company, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 567,878 shares of company stock worth $3,062,871 in the last three months. 12.03% of the stock is owned by insiders.

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.