QuantumScape (NYSE:QS) Shares Up 1% – Here’s Why

QuantumScape Co. (NYSE:QS)’s stock price traded up 1% during trading on Friday . The stock traded as high as $5.11 and last traded at $5.09. 1,306,956 shares traded hands during trading, a decline of 85% from the average session volume of 8,825,269 shares. The stock had previously closed at $5.04.

Analysts Set New Price Targets

Several analysts recently commented on the company. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, QuantumScape has an average rating of “Hold” and an average target price 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 firm has a market cap of $2.64 billion, a price-to-earnings ratio of -5.43 and a beta of 4.60. The stock has a 50-day moving average price of $5.41 and a 200 day moving average price of $5.74.

QuantumScape (NYSE:QS) last announced its 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 last year, the business posted ($0.23) EPS. As a group, equities research analysts forecast that QuantumScape Co. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In related news, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the sale, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. This trade represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael O. Mccarthy III sold 106,084 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $5.90, for a total value of $625,895.60. Following the completion of the sale, the insider now owns 1,181,884 shares in the company, valued at approximately $6,973,115.60. This represents a 8.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 702,057 shares of company stock valued at $3,982,909. Corporate insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after acquiring an additional 656,646 shares during the last quarter. State Street Corp increased its stake in QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock valued at $34,031,000 after purchasing an additional 87,563 shares during the last quarter. Geode Capital Management LLC lifted its position in QuantumScape by 3.9% during the third 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 period. Charles Schwab Investment Management Inc. boosted its stake in QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $12,806,000 after buying an additional 93,826 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in QuantumScape by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after buying an additional 25,347 shares during the period. 29.87% of the stock is currently 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.