QuantumScape (NYSE:QS) Announces Quarterly Earnings Results

QuantumScape (NYSE:QS) released its earnings results on Wednesday. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02), Briefing.com reports. During the same period in the prior year, the firm earned ($0.23) EPS.

QuantumScape Stock Performance

Shares of QS traded up $1.31 during trading hours on Thursday, hitting $6.49. The stock had a trading volume of 13,860,453 shares, compared to its average volume of 8,310,905. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66. The firm has a 50-day moving average price of $5.68 and a 200 day moving average price of $5.81. QuantumScape has a fifty-two week low of $4.67 and a fifty-two week high of $10.03. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -6.78 and a beta of 4.58.

Analysts Set New Price Targets

Several analysts have weighed in on QS shares. 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 research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.94.

Insider Activity at QuantumScape

In related news, insider Michael O. Mccarthy III sold 222,476 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $6.58, for a total value of $1,463,892.08. Following the completion of the transaction, the insider now directly owns 1,283,847 shares in the company, valued at $8,447,713.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the transaction, the director now owns 254,103 shares in the company, valued at $1,514,453.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael O. Mccarthy III sold 222,476 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $6.58, for a total value of $1,463,892.08. Following the completion of the transaction, the insider now owns 1,283,847 shares in the company, valued at approximately $8,447,713.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,126,067 shares of company stock worth $6,659,475 in the last three months. Company insiders own 10.18% of the company’s stock.

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.