QuantumScape (NYSE:QS) Shares Gap Down After Earnings Miss

QuantumScape Corporation (NYSE:QS)’s share price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $8.82, but opened at $8.18. QuantumScape shares last traded at $7.9640, with a volume of 7,153,194 shares.

The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). During the same quarter in the previous year, the company posted ($0.22) earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year.

Analyst Ratings Changes

Several equities analysts have commented on QS shares. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on shares of QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. TD Cowen reaffirmed a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. Morgan Stanley initiated coverage on shares of QuantumScape in a research note on Monday, December 8th. They issued an “equal weight” rating and a $12.00 price target on the stock. Robert W. Baird set a $12.00 price objective on shares of QuantumScape in a research report on Thursday. Finally, Evercore reaffirmed an “in-line” rating and issued a $12.00 target price (up previously from $8.00) on shares of QuantumScape in a research report on Monday, November 24th. Five research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, QuantumScape has an average rating of “Reduce” and an average target price of $9.69.

Insider Buying and Selling at QuantumScape

In other news, Director Jeffrey B. Straubel sold 157,171 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $11.38, for a total transaction of $1,788,605.98. Following the sale, the director directly owned 266,828 shares of the company’s stock, valued at approximately $3,036,502.64. This represents a 37.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dipender Saluja sold 2,613,121 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $11.01, for a total value of $28,770,462.21. Following the completion of the transaction, the director owned 9,892,934 shares in the company, valued at $108,921,203.34. The trade was a 20.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,257,169 shares of company stock valued at $48,407,629 over the last ninety days. Company insiders own 5.48% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently bought and sold shares of QS. Tsfg LLC increased its holdings in QuantumScape by 233.3% in the 3rd quarter. Tsfg LLC now owns 2,000 shares of the company’s stock valued at $25,000 after buying an additional 1,400 shares during the period. REAP Financial Group LLC boosted its position in shares of QuantumScape by 300.0% during the 3rd quarter. REAP Financial Group LLC now owns 2,000 shares of the company’s stock worth $25,000 after acquiring an additional 1,500 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QuantumScape during the 4th quarter worth approximately $25,000. Russell Investments Group Ltd. increased its stake in QuantumScape by 685.5% in the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after acquiring an additional 3,311 shares during the last quarter. Finally, North Capital Inc. acquired a new position in QuantumScape during the second quarter valued at approximately $27,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Down 0.4%

The firm has a 50 day simple moving average of $10.41 and a two-hundred day simple moving average of $11.50. The stock has a market capitalization of $4.65 billion, a P/E ratio of -9.54 and a beta of 2.51. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.