QuantumScape (NYSE:QS) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

QuantumScape (NYSE:QS) posted its quarterly earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01), Zacks reports.

QuantumScape Stock Performance

NYSE QS opened at $5.43 on Friday. The stock’s 50 day simple moving average is $5.26 and its 200-day simple moving average is $5.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The company has a market cap of $2.78 billion, a PE ratio of -5.71 and a beta of 4.45. QuantumScape has a 1-year low of $4.65 and a 1-year high of $9.52.

Insiders Place Their Bets

In related news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the transaction, the director now owns 241,195 shares in the company, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin Hettrich sold 55,647 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the sale, the chief financial officer now owns 1,022,743 shares of the company’s stock, valued at approximately $5,164,852.15. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 567,878 shares of company stock valued at $3,062,871 in the last 90 days. 12.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QS has been the topic of several analyst reports. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a report on Tuesday, November 19th. Finally, Truist Financial restated a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.26.

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.