QuantumScape (NYSE:QS) Shares Up 0.2% – Here’s Why

Shares of QuantumScape Co. (NYSE:QS) shot up 0.2% during mid-day trading on Tuesday . The stock traded as high as $5.61 and last traded at $5.50. 4,893,631 shares traded hands during trading, a decline of 49% from the average session volume of 9,636,434 shares. The stock had previously closed at $5.49.

Analyst Ratings Changes

Several brokerages recently issued reports on QS. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, Wolfe Research initiated coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Price Performance

The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -5.46 and a beta of 4.50. The company has a 50 day moving average of $5.18 and a 200 day moving average of $5.64. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the previous year, the business posted ($0.23) earnings per share. As a group, equities research analysts forecast that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jagdeep Singh sold 308,097 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.30, for a total value of $1,632,914.10. Following the sale, the director now directly owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. This trade represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 763,337 shares of company stock valued at $4,156,865. Company insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its position in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after buying an additional 2,148 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of QuantumScape by 32.4% in the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after acquiring an additional 3,310 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of QuantumScape by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after acquiring an additional 3,527 shares in the last quarter. International Assets Investment Management LLC lifted 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 worth $29,000 after acquiring an additional 4,228 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of QuantumScape by 4.6% in the second quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock worth $486,000 after acquiring an additional 4,330 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.