Shares of QuantumScape Co. (NYSE:QS - Get Free Report) were up 5.3% during trading on Wednesday . The stock traded as high as $3.67 and last traded at $3.66. Approximately 4,437,084 shares changed hands during trading, a decline of 58% from the average daily volume of 10,602,938 shares. The stock had previously closed at $3.47.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. The Goldman Sachs Group lowered their price objective on QuantumScape from $4.00 to $3.00 and set a "sell" rating for the company in a report on Thursday. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and dropped their price target for the company from $5.00 to $2.50 in a research report on Thursday. Evercore ISI reaffirmed a "hold" rating on shares of QuantumScape in a report on Tuesday, February 25th. Finally, Truist Financial dropped their target price on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.13.
Read Our Latest Analysis on QS
QuantumScape Stock Performance
The company's 50-day moving average is $4.51 and its two-hundred day moving average is $5.02. The stock has a market capitalization of $2.09 billion, a P/E ratio of -4.06 and a beta of 4.37. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.
QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.01). As a group, sell-side analysts anticipate that QuantumScape Co. will post -0.82 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Michael O. Mccarthy III sold 76,315 shares of QuantumScape stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $399,127.45. Following the transaction, the insider now directly owns 1,010,523 shares in the company, valued at approximately $5,285,035.29. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Hettrich sold 53,975 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 $282,289.25. Following the completion of the sale, the chief financial officer now owns 930,800 shares of the company's stock, valued at approximately $4,868,084. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,147 shares of company stock worth $935,758. 12.03% of the stock is owned by corporate insiders.
Institutional Trading of QuantumScape
A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company's stock worth $33,671,000 after acquiring an additional 218,743 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of QuantumScape in the 4th quarter valued at $1,275,000. Charles Schwab Investment Management Inc. increased its stake in QuantumScape by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company's stock worth $12,103,000 after purchasing an additional 104,894 shares in the last quarter. Vanguard Group Inc. raised its holdings in QuantumScape by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock worth $168,367,000 after buying an additional 956,072 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in QuantumScape during the fourth quarter valued at about $1,527,000. 29.87% of the stock is currently owned by institutional investors.
About QuantumScape
(
Get Free Report)
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.
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