QuantumScape (NYSE:QS) Shares Up 3.1% – What’s Next?

QuantumScape Co. (NYSE:QS) shares shot up 3.1% during trading on Tuesday . The company traded as high as $5.32 and last traded at $5.31. 3,272,386 shares were traded during trading, a decline of 65% from the average session volume of 9,407,486 shares. The stock had previously closed at $5.15.

Wall Street Analysts Forecast Growth

QS has been the subject of several analyst reports. Truist Financial reissued 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 Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Wolfe Research started coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. HSBC upgraded 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, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Performance

The company has a market cap of $2.75 billion, a price-to-earnings ratio of -5.65 and a beta of 4.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The stock’s fifty day simple moving average is $5.15 and its two-hundred day simple moving average is $5.64.

QuantumScape (NYSE:QS) last posted 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 firm earned ($0.23) earnings per share. Equities research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now owns 241,195 shares in the company, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $5.53, for a total value of $1,063,253.10. Following the completion of the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $14,325,923.99. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 666,032 shares of company stock valued at $3,549,682 over the last quarter. Company insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in shares of QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after buying an additional 133,000 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of QuantumScape during the second quarter valued at approximately $1,950,000. Weiss Asset Management LP acquired a new stake in shares of QuantumScape during the 3rd quarter worth approximately $828,000. Sanctuary Advisors LLC bought a new stake in shares of QuantumScape in the 2nd quarter worth approximately $680,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in QuantumScape during the 2nd quarter valued at approximately $644,000. Institutional investors own 29.87% 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.