QuantumScape (NYSE:QS) Trading 5.1% Higher – What’s Next?

QuantumScape Co. (NYSE:QS)’s stock price was up 5.1% during mid-day trading on Tuesday . The stock traded as high as $4.97 and last traded at $4.97. Approximately 3,475,278 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 8,828,151 shares. The stock had previously closed at $4.73.

Analyst Ratings Changes

A number of equities analysts recently commented on QS shares. Wolfe Research began coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Truist Financial reiterated a “hold” rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research note on Tuesday. 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, QuantumScape has an average rating of “Hold” and an average target price of $6.26.

QuantumScape Stock Performance

The firm’s 50-day moving average price is $5.44 and its 200-day moving average price is $5.75. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings results 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 previous year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts expect that QuantumScape Co. will post -0.97 EPS for the current year.

Insider Activity at QuantumScape

In related news, Director Jagdeep Singh sold 192,270 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the completion of the sale, the director now directly owns 2,590,583 shares in the company, valued at $15,517,592.17. This represents a 6.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jurgen Leohold sold 17,435 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $6.00, for a total transaction of $104,610.00. Following the completion of the transaction, the director now owns 194,904 shares of the company’s stock, valued at $1,169,424. This represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 606,197 shares of company stock worth $3,498,399 over the last three months. 12.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its position in QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares during the period. International Assets Investment Management LLC grew its position 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. CWM LLC boosted its holdings in QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of QuantumScape in the second quarter worth approximately $36,000. Finally, Alaska Wealth Advisors purchased a new stake in shares of QuantumScape during the second quarter worth $49,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.