QuantumScape (NYSE:QS) Trading Up 5% – Here’s Why

QuantumScape Co. (NYSE:QS)’s stock price was up 5% on Tuesday . The stock traded as high as $5.35 and last traded at $5.22. Approximately 9,371,680 shares changed hands during trading, an increase of 3% from the average daily volume of 9,135,107 shares. The stock had previously closed at $4.97.

Analysts Set New Price Targets

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

QuantumScape Price Performance

The company has a market capitalization of $2.42 billion, a P/E ratio of -4.98 and a beta of 4.50. The company has a 50 day moving average price of $5.19 and a 200 day moving average price of $5.66. 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 issued 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 quarter last year, the company posted ($0.23) earnings per share. On average, equities analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Thursday, November 21st. The shares were 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 of the company’s stock, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jagdeep Singh sold 308,097 shares of the stock in a transaction on 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 sale, the director now owns 2,563,767 shares in the company, valued at approximately $13,587,965.10. This represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 666,032 shares of company stock worth $3,549,682 in the last ninety days. Company insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of QuantumScape in the 2nd quarter worth approximately $1,950,000. American Century Companies Inc. raised its stake in QuantumScape by 880.6% during the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock worth $1,733,000 after acquiring an additional 316,361 shares during the period. Geode Capital Management LLC lifted its stake in shares of QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after buying an additional 218,743 shares in the last quarter. Weiss Asset Management LP bought a new position in QuantumScape during the third quarter valued at approximately $828,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of QuantumScape by 6,650.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after acquiring an additional 133,000 shares in the last quarter. 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.