QuantumScape (NYSE:QS) Issues Earnings Results

QuantumScape (NYSE:QS) issued its quarterly earnings results on Wednesday. The company reported ($0.22) earnings per share (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 $0.37 during midday trading on Thursday, reaching $5.20. 5,063,080 shares of the company traded hands, compared to its average volume of 14,980,914. The firm’s fifty day moving average price is $5.26 and its two-hundred day moving average price is $5.45. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -5.44 and a beta of 4.45. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape has a 12 month low of $4.65 and a 12 month high of $9.52.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the 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 sale, the director now directly owns 241,195 shares in the company, valued at $1,215,622.80. This represents a 5.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Hettrich sold 55,647 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.05, for a total transaction of $281,017.35. Following the transaction, the chief financial officer now owns 1,022,743 shares of the company’s stock, valued at $5,164,852.15. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 567,878 shares of company stock worth $3,062,871 in the last quarter. 12.03% of the stock is owned by company insiders.

QuantumScape Company Profile

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.