QuantumScape (NYSE:QS) Sees Unusually-High Trading Volume – What’s Next?

QuantumScape Co. (NYSE:QS) saw strong trading volume on Monday . 13,451,647 shares were traded during mid-day trading, an increase of 49% from the previous session’s volume of 9,028,205 shares.The stock last traded at $5.45 and had previously closed at $5.00.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on QS shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Wolfe Research started coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research note on Tuesday, November 19th. Finally, Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Performance

The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.73 billion, a PE ratio of -5.75 and a beta of 4.50. The business’s 50 day moving average is $5.27 and its 200 day moving average is $5.70.

QuantumScape (NYSE:QS) last issued its earnings results 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 last year, the company posted ($0.23) EPS. On average, equities research analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 58,000 shares of QuantumScape stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total value of $335,240.00. Following the completion of the transaction, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at approximately $6,202,067.16. The trade was a 5.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael O. Mccarthy III sold 106,084 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 of the company’s stock, valued at $6,973,115.60. This trade represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 702,057 shares of company stock valued at $3,982,909 in the last three months. 12.03% of the stock is owned by insiders.

Institutional Trading of QuantumScape

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after purchasing an additional 133,000 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of QuantumScape in the 2nd quarter valued at about $1,950,000. Sanctuary Advisors LLC purchased a new stake in shares of QuantumScape during the second quarter worth approximately $680,000. Weiss Asset Management LP acquired a new position in QuantumScape during the 3rd quarter worth approximately $828,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of QuantumScape in the 2nd quarter valued at approximately $644,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.