QuantumScape (NYSE:QS) Shares Gap Up – What’s Next?

Shares of QuantumScape Corporation (NYSE:QS) gapped up prior to trading on Thursday . The stock had previously closed at $6.90, but opened at $7.75. QuantumScape shares last traded at $7.4430, with a volume of 23,992,103 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and decreased their target price for the company from $10.50 to $8.30 in a research report on Wednesday, February 18th. TD Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. Finally, Morgan Stanley decreased their price objective on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $11.13.

QuantumScape Trading Up 12.3%

The firm has a 50-day moving average of $7.60 and a 200 day moving average of $8.59. The company has a market cap of $4.77 billion, a P/E ratio of -9.58 and a beta of 2.60. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. During the same period in the prior year, the company earned ($0.21) earnings per share. On average, analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In related news, Director Jeffrey B. Straubel sold 27,106 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $7.85, for a total transaction of $212,782.10. Following the transaction, the director owned 131,298 shares in the company, valued at $1,030,689.30. The trade was a 17.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Hettrich sold 9,800 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $8.06, for a total transaction of $78,988.00. Following the transaction, the chief financial officer directly owned 1,833,902 shares in the company, valued at approximately $14,781,250.12. This represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 778,932 shares of company stock worth $6,043,845. 3.93% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Several large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of QuantumScape during the third quarter valued at approximately $33,962,000. Vanguard Group Inc. grew its position in QuantumScape by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 36,635,232 shares of the company’s stock valued at $451,346,000 after purchasing an additional 422,378 shares during the period. Norges Bank acquired a new stake in QuantumScape in the 4th quarter valued at $29,321,000. Exchange Traded Concepts LLC bought a new stake in QuantumScape during the 4th quarter valued at $4,475,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in QuantumScape during the third quarter worth $3,330,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.