QuantumScape (NYSE:QS) Issues Earnings Results

QuantumScape (NYSE:QS) posted its earnings results on Wednesday. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.01), Zacks reports.

QuantumScape Stock Performance

Shares of NYSE:QS traded up $0.08 during midday trading on Wednesday, hitting $4.84. The company’s stock had a trading volume of 21,125,258 shares, compared to its average volume of 15,432,533. 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 stock’s 50 day simple moving average is $5.26 and its 200 day simple moving average is $5.45. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -5.09 and a beta of 4.45. QuantumScape has a fifty-two week low of $4.65 and a fifty-two week high of $9.52.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on QS. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th. Finally, Truist Financial reissued a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.26.

Insider Buying and Selling

In related news, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the sale, the director now owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael O. Mccarthy III sold 27,305 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.07, for a total value of $138,436.35. Following the transaction, the insider now owns 1,129,167 shares in the company, valued at $5,724,876.69. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 573,409 shares of company stock valued at $3,090,581. Insiders own 12.03% of the company’s stock.

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.