QuantumScape (NYSE:QS) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

QuantumScape (NYSE:QS) issued its quarterly 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 quarter in the previous year, the company posted ($0.23) earnings per share.

QuantumScape Price Performance

NYSE QS traded up $1.31 during trading hours on Thursday, reaching $6.49. The company’s stock had a trading volume of 13,860,453 shares, compared to its average volume of 8,310,905. The firm’s 50-day moving average price is $5.68 and its 200-day moving average price is $5.81. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. QuantumScape has a 1 year low of $4.67 and a 1 year high of $10.03. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -6.78 and a beta of 4.58.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Truist Financial cut 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, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, QuantumScape currently has a consensus rating of “Hold” and a consensus price target of $5.94.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the sale, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at $5,890,890.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QuantumScape news, insider Michael O. Mccarthy III sold 222,476 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total value of $1,463,892.08. Following the transaction, the insider now owns 1,283,847 shares of the company’s stock, valued at $8,447,713.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the sale, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at $5,890,890.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,126,067 shares of company stock valued at $6,659,475. Corporate 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.