QuantumScape (NYSE:QS) Trading Up 2.1% – Here’s Why

QuantumScape Co. (NYSE:QS)’s share price shot up 2.1% during trading on Friday . The stock traded as high as $5.31 and last traded at $5.29. 3,001,009 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 8,864,636 shares. The stock had previously closed at $5.18.

Wall Street Analyst Weigh In

Several research firms have commented on QS. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Truist Financial reaffirmed a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Wolfe Research began coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Finally, HSBC upgraded 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 seven have issued a hold rating to the company’s stock. According to MarketBeat, QuantumScape has an average rating of “Hold” and a consensus target price of $6.26.

QuantumScape Price Performance

The stock has a 50-day simple moving average of $5.37 and a 200 day simple moving average of $5.74. 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 stock has a market capitalization of $2.68 billion, a P/E ratio of -5.57 and a beta of 4.60.

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

Insider Buying and Selling

In related news, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the sale, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fritz Prinz sold 12,908 shares of the firm’s 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 directly owns 241,195 shares in the company, valued at $1,215,622.80. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 702,057 shares of company stock valued at $3,982,909. 12.03% of the stock is owned by company insiders.

Institutional Trading of QuantumScape

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after purchasing an additional 656,646 shares in the last quarter. State Street Corp increased its position in shares of QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock valued at $34,031,000 after acquiring an additional 87,563 shares during the last quarter. Geode Capital Management LLC increased its position in shares of QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after acquiring an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of QuantumScape by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after acquiring an additional 93,826 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of QuantumScape by 1.4% in the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after acquiring an additional 25,347 shares during the last quarter. 29.87% of the stock is currently 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.