QuantumScape (NYSE:QS) Sees Large Volume Increase – Still a Buy?

QuantumScape Co. (NYSE:QS) shares saw an uptick in trading volume on Thursday . 4,444,048 shares were traded during trading, a decline of 53% from the previous session’s volume of 9,411,777 shares.The stock last traded at $5.63 and had previously closed at $5.37.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Hsbc Global Res raised 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 target price for the company in a research report on Tuesday, November 19th. Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, QuantumScape presently has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Price 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 business’s 50-day moving average price is $5.18 and its two-hundred day moving average price is $5.64. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -6.26 and a beta of 4.50.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the business earned ($0.23) EPS. On average, research analysts forecast that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the sale, the chief financial officer now owns 1,073,022 shares in the company, valued at $5,890,890.78. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the transaction, the director now directly owns 2,590,583 shares in the company, valued at $12,978,820.83. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 763,337 shares of company stock valued at $4,156,865 over the last three months. 12.03% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its position in QuantumScape by 79.9% in the 3rd 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 increased its stake in shares of QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after purchasing an additional 4,228 shares during the period. Centaurus Financial Inc. bought a new stake in shares of QuantumScape during the second quarter valued at approximately $52,000. Financial Advocates Investment Management acquired a new position in shares of QuantumScape during the second quarter worth approximately $58,000. Finally, Atom Investors LP bought a new position in QuantumScape in the 3rd quarter worth approximately $60,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.