QuantumScape (NYSE:QS) Shares Gap Up – What’s Next?

QuantumScape Co. (NYSE:QS) gapped up before the market opened on Thursday . The stock had previously closed at $4.90, but opened at $5.52. QuantumScape shares last traded at $5.17, with a volume of 14,268,534 shares traded.

Analyst Ratings Changes

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

QuantumScape Price Performance

The firm has a 50-day simple moving average of $5.29 and a 200 day simple moving average of $5.70. The stock has a market capitalization of $2.56 billion, a P/E ratio of -5.26 and a beta of 4.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

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

Insider Activity

In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 owns 2,590,583 shares of the company’s stock, valued at approximately $15,517,592.17. This represents a 6.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the transaction, the director now owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 702,057 shares of company stock valued at $3,982,909. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several large investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its position in QuantumScape by 2.3% during the first quarter. California State Teachers Retirement System now owns 344,306 shares of the company’s stock valued at $2,166,000 after acquiring an additional 7,585 shares during the last quarter. Mather Group LLC. bought a new stake in shares of QuantumScape during the 2nd quarter valued at about $36,000. CWM LLC grew its stake in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after purchasing an additional 2,556 shares during the period. SG Americas Securities LLC increased its holdings in QuantumScape by 49.0% in the second quarter. SG Americas Securities LLC now owns 111,989 shares of the company’s stock worth $551,000 after purchasing an additional 36,831 shares in the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new position in QuantumScape in the second quarter valued at approximately $76,000. 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.