QuantumScape (NYSE:QS) Trading Up 0.4% – Still a Buy?

QuantumScape Co. (NYSE:QS)’s share price rose 0.4% during mid-day trading on Thursday . The stock traded as high as $5.31 and last traded at $5.18. Approximately 6,556,446 shares traded hands during trading, a decline of 26% from the average daily volume of 8,891,154 shares. The stock had previously closed at $5.16.

Analyst Ratings Changes

QS has been the topic of several recent research reports. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Truist Financial restated a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th. Wolfe Research initiated coverage on QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Performance

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 capitalization of $2.69 billion, a price-to-earnings ratio of -5.52 and a beta of 4.60. The firm has a fifty day simple moving average of $5.35 and a 200 day simple moving average of $5.73.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the business earned ($0.23) EPS. On average, analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other news, insider Michael O. Mccarthy III sold 106,084 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $5.90, for a total value of $625,895.60. Following the transaction, the insider now directly owns 1,181,884 shares of the company’s stock, valued at approximately $6,973,115.60. This trade represents a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kevin Hettrich sold 58,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total transaction of $335,240.00. Following the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at $6,202,067.16. The trade was a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 702,057 shares of company stock valued at $3,982,909. 12.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QS. Signaturefd LLC increased its holdings in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the last quarter. International Assets Investment Management LLC grew its holdings in QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares in the last quarter. CWM LLC increased its stake in shares of QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after acquiring an additional 2,556 shares during the last quarter. Mather Group LLC. purchased a new position in shares of QuantumScape during the 2nd quarter worth $36,000. Finally, Alaska Wealth Advisors acquired a new position in shares of QuantumScape during the 2nd quarter valued at about $49,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.