QuantumScape (NYSE:QS) Trading 11.3% Higher – What’s Next?

QuantumScape Corporation (NYSE:QS)’s share price rose 11.3% on Friday . The company traded as high as $16.49 and last traded at $15.91. Approximately 76,126,555 shares changed hands during trading, an increase of 186% from the average daily volume of 26,646,596 shares. The stock had previously closed at $14.30.

Analyst Upgrades and Downgrades

QS has been the topic of a number of research reports. Robert W. Baird increased their price target on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. TD Cowen upgraded QuantumScape to a “hold” rating in a research report on Monday, July 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research report on Saturday, September 27th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, QuantumScape currently has an average rating of “Reduce” and a consensus target price of $5.88.

QuantumScape Trading Up 11.3%

The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of -18.50 and a beta of 4.85. The firm has a 50-day moving average of $9.81 and a 200 day moving average of $6.95.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The business had revenue of $36.67 million during the quarter. During the same quarter in the prior year, the company posted ($0.25) EPS. As a group, equities analysts predict that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Activity

In other QuantumScape news, insider Michael O. Mccarthy III sold 500,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the completion of the transaction, the insider directly owned 1,467,183 shares of the company’s stock, valued at approximately $17,019,322.80. This trade represents a 25.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mohit Singh sold 465,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total value of $3,817,650.00. Following the transaction, the insider directly owned 1,641,711 shares of the company’s stock, valued at approximately $13,478,447.31. The trade was a 22.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,848,276 shares of company stock worth $31,025,735 in the last quarter. 5.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. boosted its stake in QuantumScape by 8.5% during the 2nd quarter. Baird Financial Group Inc. now owns 18,575 shares of the company’s stock valued at $125,000 after purchasing an additional 1,450 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in QuantumScape by 54.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company’s stock valued at $37,000 after purchasing an additional 1,963 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in QuantumScape by 12.9% during the 2nd quarter. Wealthfront Advisers LLC now owns 21,844 shares of the company’s stock valued at $147,000 after purchasing an additional 2,495 shares in the last quarter. Birchcreek Wealth Management LLC boosted its stake in shares of QuantumScape by 11.5% during the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company’s stock worth $105,000 after acquiring an additional 2,600 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of QuantumScape by 13.7% during the 1st quarter. HighTower Advisors LLC now owns 23,611 shares of the company’s stock worth $98,000 after acquiring an additional 2,838 shares in the last quarter. 29.87% of the stock is owned by institutional investors.

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.