QuantumScape (NYSE:QS) Announces Earnings Results, Misses Expectations By $0.02 EPS

QuantumScape (NYSE:QS) released its quarterly earnings results on Wednesday. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02), Briefing.com reports. During the same period in the previous year, the business earned ($0.23) earnings per share.

QuantumScape Price Performance

NYSE QS traded up $1.06 on Thursday, hitting $6.24. 47,443,625 shares of the company’s stock were exchanged, compared to its average volume of 8,473,931. The stock has a 50-day moving average of $5.67 and a 200-day moving average of $5.80. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of -7.08 and a beta of 4.58. QuantumScape has a 52 week low of $4.67 and a 52 week high of $10.03. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03.

Analysts Set New Price Targets

Several research analysts recently commented on QS shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. Truist Financial decreased their price target on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Finally, Wolfe Research assumed coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape presently has an average rating of “Hold” and a consensus target price of $5.94.

Insider Buying and Selling

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the completion of the transaction, the director now directly owns 254,103 shares in the company, valued at approximately $1,514,453.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the completion of the transaction, the director now directly owns 254,103 shares of the company’s stock, valued at approximately $1,514,453.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jurgen Leohold sold 17,435 shares of QuantumScape stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.00, for a total value of $104,610.00. Following the completion of the sale, the director now owns 194,904 shares of the company’s stock, valued at approximately $1,169,424. The trade was a 0.00 % decrease in their ownership of the stock. 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 ninety days. 10.18% of the stock is owned by insiders.

About QuantumScape

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.