QuantumScape (NYSE:QS) Shares Gap Up – Time to Buy?

QuantumScape Co. (NYSE:QS) shares gapped up prior to trading on Monday . The stock had previously closed at $6.00, but opened at $6.34. QuantumScape shares last traded at $6.71, with a volume of 7,276,404 shares changing hands.

Analysts Set New Price Targets

Several analysts have commented on the company. 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 objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. One equities research 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.com, the company has an average rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Performance

The firm has a market cap of $3.40 billion, a PE ratio of -6.99 and a beta of 4.46. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $5.16 and a two-hundred day moving average price of $5.66.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the firm posted ($0.23) earnings per share. Research analysts forecast that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the sale, the insider now owns 1,092,020 shares in the company, valued at $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 571,067 shares of company stock worth $3,093,612. 12.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC grew its stake in QuantumScape by 28.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after purchasing an additional 35,579 shares in the last quarter. Virtu Financial LLC purchased a new stake in QuantumScape during the 3rd quarter worth about $235,000. Barclays PLC lifted its holdings in QuantumScape by 326.5% during the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after buying an additional 79,871 shares during the last quarter. Geode Capital Management LLC lifted its holdings in QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after buying an additional 218,743 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in QuantumScape by 139.2% during the 3rd quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock worth $265,000 after buying an additional 26,820 shares during 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.