QuantumScape (NYSE:QS) Trading 8.1% Higher – Still a Buy?

QuantumScape Co. (NYSE:QS)’s share price was up 8.1% during mid-day trading on Thursday . The company traded as high as $5.67 and last traded at $5.61. Approximately 7,741,869 shares changed hands during trading, a decline of 20% from the average daily volume of 9,691,576 shares. The stock had previously closed at $5.19.

Wall Street Analyst Weigh In

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

QuantumScape Price Performance

The stock has a market capitalization of $2.74 billion, a P/E ratio of -5.62 and a beta of 4.50. The business has a fifty day simple moving average of $5.18 and a 200 day simple moving average of $5.64. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced 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 period last year, the company posted ($0.23) earnings per share. On average, analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Transactions at QuantumScape

In other news, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now directly owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now owns 241,195 shares in the company, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 763,337 shares of company stock worth $4,156,865 in the last quarter. 12.03% of the stock is currently owned by corporate insiders.

Institutional Trading of QuantumScape

A number of large investors have recently added to or reduced their stakes in QS. Signaturefd LLC increased its position in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after buying an additional 2,148 shares during the last quarter. International Assets Investment Management LLC increased its holdings in QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after acquiring an additional 4,228 shares during the last quarter. Centaurus Financial Inc. bought a new stake in QuantumScape in the 2nd quarter valued at about $52,000. Atom Investors LP purchased a new stake in QuantumScape during the third quarter valued at about $60,000. Finally, CIBC Asset Management Inc bought a new position in QuantumScape during the second quarter worth about $61,000. Hedge funds and other institutional investors 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.