QuantumScape (NYSE:QS) Shares Up 4%

QuantumScape Co. (NYSE:QS) shares shot up 4% on Monday . The company traded as high as $7.22 and last traded at $7.21. 3,688,171 shares were traded during trading, a decline of 46% from the average session volume of 6,852,734 shares. The stock had previously closed at $6.93.

Wall Street Analysts Forecast Growth

QS has been the topic of several research analyst reports. Evercore ISI initiated coverage on shares of QuantumScape in a research note on Monday. They issued an “outperform” rating and a $10.00 price target on the stock. TD Cowen cut shares of QuantumScape from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $14.00 to $8.00 in a research note on Wednesday, July 19th. The Goldman Sachs Group boosted their price target on shares of QuantumScape from $4.00 to $6.00 and gave the stock a “sell” rating in a research note on Tuesday, August 1st. Wolfe Research cut shares of QuantumScape from a “peer perform” rating to an “underperform” rating and set a $2.00 price target on the stock. in a research note on Thursday, June 8th. Finally, Truist Financial boosted their price target on shares of QuantumScape from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, QuantumScape currently has an average rating of “Hold” and an average target price of $6.71.

QuantumScape Stock Performance

The business’s fifty day moving average price is $8.40 and its two-hundred day moving average price is $7.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 19.25 and a current ratio of 19.25. The stock has a market capitalization of $3.21 billion, a P/E ratio of -6.98 and a beta of 5.28.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, July 26th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). During the same period in the previous year, the company posted ($0.22) EPS. As a group, sell-side analysts forecast that QuantumScape Co. will post -0.98 earnings per share for the current year.

Insider Activity at QuantumScape

In other QuantumScape news, Director Jurgen Leohold sold 68,074 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $8.01, for a total value of $545,272.74. Following the transaction, the director now directly owns 185,717 shares in the company, valued at approximately $1,487,593.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QuantumScape news, Director Jurgen Leohold sold 68,074 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $8.01, for a total value of $545,272.74. Following the transaction, the director now directly owns 185,717 shares in the company, valued at approximately $1,487,593.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Hettrich sold 76,648 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $6.84, for a total transaction of $524,272.32. Following the completion of the transaction, the chief financial officer now owns 604,204 shares in the company, valued at $4,132,755.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 584,189 shares of company stock worth $4,812,323. Insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently modified their holdings of the business. Zweig DiMenna Associates LLC purchased a new stake in QuantumScape during the first quarter valued at approximately $585,000. Oak Thistle LLC purchased a new stake in QuantumScape during the first quarter valued at approximately $198,000. Premier Fund Managers Ltd lifted its position in QuantumScape by 1.9% during the first quarter. Premier Fund Managers Ltd now owns 141,213 shares of the company’s stock valued at $1,091,000 after acquiring an additional 2,600 shares during the last quarter. Armor Investment Advisors LLC lifted its position in QuantumScape by 19.3% during the first quarter. Armor Investment Advisors LLC now owns 37,169 shares of the company’s stock valued at $304,000 after acquiring an additional 6,004 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new stake in QuantumScape during the first quarter valued at approximately $127,000. Hedge funds and other institutional investors own 27.22% of the company’s stock.

About QuantumScape

QuantumScape Corporation, a development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. QuantumScape Corporation was founded in 2010 and is headquartered in San Jose, California.