QuantumScape (NYSE:QS) Trading Up 2.3% – Here’s Why

QuantumScape Co. (NYSE:QS)’s stock price shot up 2.3% during trading on Thursday . The stock traded as high as $5.30 and last traded at $5.22. 3,370,757 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 16,120,904 shares. The stock had previously closed at $5.10.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on QS shares. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th. Truist Financial reaffirmed 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. Finally, Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Trading Down 0.5 %

The company’s 50 day simple moving average is $5.29 and its two-hundred day simple moving average is $5.64. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -5.45 and a beta of 4.46. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jagdeep Singh sold 308,097 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.30, for a total value of $1,632,914.10. Following the completion of the transaction, the director now directly owns 2,563,767 shares in the company, valued at $13,587,965.10. This represents a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 573,409 shares of company stock valued at $3,090,581 in the last quarter. 12.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC raised its stake in shares of QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in QuantumScape during the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC lifted its holdings in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares during the period. Blue Trust Inc. boosted its position in QuantumScape by 208.8% in the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after purchasing an additional 4,556 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of QuantumScape during the 4th quarter worth approximately $53,000. 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.