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

by · The Markets Daily

QuantumScape (NYSE:QS – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03, Zacks reports.

QuantumScape Price Performance

NYSE QS remained flat at $3.98 during trading on Wednesday. The company’s stock had a trading volume of 14,549,168 shares, compared to its average volume of 18,398,664. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $5.12 and its 200 day simple moving average is $6.36. The firm has a market capitalization of $2.46 billion, a PE ratio of -4.91 and a beta of 2.83. QuantumScape has a 1 year low of $3.80 and a 1 year high of $18.56.

Insider Activity

In related news, CTO Timothy Holme sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $4.54, for a total transaction of $204,300.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 294,599 shares of company stock valued at $1,473,271 over the last ninety days. Company insiders own 3.93% of the company’s stock.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Report on QuantumScape

About QuantumScape

(Get Free Report)

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.

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