QuantumScape (NYSE:QS) Posts Earnings Results

QuantumScape (NYSE:QS) announced its quarterly earnings data on Wednesday. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03), Briefing.com reports. During the same quarter in the prior year, the company posted ($0.26) earnings per share.

QuantumScape Stock Performance

QS stock traded up $0.15 during trading on Friday, hitting $7.03. 9,094,787 shares of the company traded hands, compared to its average volume of 9,523,271. The stock’s 50-day simple moving average is $5.96 and its 200 day simple moving average is $6.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.38 and a quick ratio of 10.38. The company has a market cap of $3.51 billion, a PE ratio of -7.27 and a beta of 4.62. QuantumScape has a 1 year low of $4.67 and a 1 year high of $13.86.

Analysts Set New Price Targets

Several analysts have recently issued reports on QS shares. Truist Financial decreased their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. UBS Group cut their price objective on QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.45.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 22,554 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the sale, the insider now directly owns 1,207,500 shares of the company’s stock, valued at $6,906,900. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Fritz Prinz sold 25,816 shares of QuantumScape stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.87, for a total value of $125,723.92. Following the sale, the director now directly owns 267,011 shares of the company’s stock, valued at $1,300,343.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the transaction, the insider now owns 1,207,500 shares in the company, valued at approximately $6,906,900. The disclosure for this sale can be found here. Over the last three months, insiders have sold 847,562 shares of company stock valued at $4,869,703. 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.