QuantumScape (NYSE:QS) Trading Up 1.8% – Here’s Why

QuantumScape Co. (NYSE:QS) shares shot up 1.8% during trading on Friday . The stock traded as high as $5.32 and last traded at $5.27. 3,628,347 shares changed hands during trading, a decline of 79% from the average session volume of 17,612,559 shares. The stock had previously closed at $5.17.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial reissued a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The business has a 50 day moving average of $5.28 and a two-hundred day moving average of $5.70. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -5.43 and a beta of 4.46.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the business earned ($0.23) EPS. Equities analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the transaction, the director now directly owns 2,563,767 shares of the company’s stock, valued at $13,587,965.10. The trade was a 10.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 27,305 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.07, for a total transaction of $138,436.35. Following the completion of the sale, the insider now owns 1,129,167 shares of the company’s stock, valued at approximately $5,724,876.69. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 536,460 shares of company stock valued at $2,903,619. Corporate insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after acquiring an additional 316,361 shares in the last quarter. Geode Capital Management LLC increased its position in shares of QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of QuantumScape during the 3rd quarter worth $828,000. Nisa Investment Advisors LLC boosted its holdings in shares of QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after buying an additional 133,000 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in QuantumScape during the second quarter valued at about $644,000. 29.87% of the stock is owned by institutional investors.

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.