QuantumScape (NYSE:QS) Trading 0.2% Higher – Time to Buy?

QuantumScape Co. (NYSE:QS) traded up 0.2% during mid-day trading on Tuesday . The stock traded as high as $5.61 and last traded at $5.50. 4,893,631 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 9,636,434 shares. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on QS. HSBC raised 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. Truist Financial restated a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Wolfe Research started coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. One research 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, the company presently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Trading Down 3.6 %

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 stock has a market cap of $2.71 billion, a price-to-earnings ratio of -5.57 and a beta of 4.50. The business has a 50-day simple moving average of $5.18 and a two-hundred day simple moving average of $5.64.

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

Insider Activity

In other news, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jagdeep Singh sold 308,097 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the transaction, the director now directly owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. The trade was a 10.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 763,337 shares of company stock worth $4,156,865. Corporate insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Sanctuary Advisors LLC grew its holdings in shares of QuantumScape by 28.2% during the third quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after purchasing an additional 35,579 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of QuantumScape in the third quarter worth $235,000. Barclays PLC raised its position in QuantumScape by 326.5% during the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after purchasing an additional 79,871 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 acquiring an additional 218,743 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of QuantumScape by 139.2% in the third quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock worth $265,000 after acquiring an additional 26,820 shares during the period. 29.87% of the stock is currently owned by institutional investors.

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.