QuantumScape (NYSE:QS) Trading Up 0.4% – Here’s Why

QuantumScape Co. (NYSE:QS) shot up 0.4% on Monday . The company traded as high as $5.19 and last traded at $5.04. 4,468,789 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 9,406,126 shares. The stock had previously closed at $5.02.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QS. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research report on Tuesday, November 19th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reiterated 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. Finally, Wolfe Research began coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating for the company. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Stock Up 1.8 %

The firm has a market cap of $2.62 billion, a P/E ratio of -5.38 and a beta of 4.50. The firm’s 50 day moving average is $5.17 and its two-hundred day moving average is $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 for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the prior year, the company earned ($0.23) EPS. As a group, research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, CFO Kevin Hettrich sold 29,667 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $5.10, for a total value of $151,301.70. Following the sale, the chief financial officer now directly owns 1,024,325 shares in the company, valued at $5,224,057.50. The trade was a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.53, for a total value of $1,063,253.10. Following the transaction, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $14,325,923.99. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 666,032 shares of company stock valued at $3,549,682. Company insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently bought and sold shares of the company. Signaturefd LLC lifted its position in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC lifted its position in QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of QuantumScape during the 2nd quarter worth about $52,000. Financial Advocates Investment Management acquired a new position in shares of QuantumScape during the 2nd quarter worth about $58,000. Finally, Atom Investors LP bought a new position in shares of QuantumScape in the 3rd quarter valued at about $60,000. 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.