QuantumScape (NYSE:QS) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

QuantumScape (NYSE:QS) posted its quarterly earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03, Zacks reports.

QuantumScape Price Performance

Shares of NYSE QS remained flat at $3.98 during trading on Wednesday. 15,245,945 shares of the stock were exchanged, compared to its average volume of 18,398,664. The firm’s 50-day moving average price is $5.12 and its 200 day moving average price is $6.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The stock has a market capitalization of $2.46 billion, a PE ratio of -4.91 and a beta of 2.83. QuantumScape has a 12-month low of $3.80 and a 12-month high of $18.56.

Insider Activity at QuantumScape

In other news, CTO Timothy Holme sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $4.54, for a total transaction of $204,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 294,599 shares of company stock valued at $1,473,271 in the last three months. Insiders own 3.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on QS shares. TD Cowen lowered their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, July 24th. Morgan Stanley cut their target price on QuantumScape from $8.50 to $4.50 and set an “equal weight” rating on the stock in a research note on Thursday, October 15th. Five research analysts have rated the stock with a Hold rating. According to data from MarketBeat, QuantumScape presently has a consensus rating of “Hold” and an average target price of $8.80.

About QuantumScape

QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries. Its technology is designed to replace the liquid or gel electrolytes used in conventional lithium-ion batteries with a solid-state separator, with the goal of improving energy density, charging performance, safety and operating range for electric vehicles.

The company is developing prototype battery cells and related manufacturing processes for automotive applications.