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

QuantumScape Co. (NYSE:QS) was up 2.1% on Friday . The company traded as high as $5.31 and last traded at $5.29. Approximately 3,001,009 shares were traded during trading, a decline of 66% from the average daily volume of 8,864,636 shares. The stock had previously closed at $5.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on QS shares. Wolfe Research started coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. HSBC raised 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. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, QuantumScape currently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Trading Up 1.0 %

The firm has a 50 day moving average of $5.37 and a 200-day moving average of $5.74. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm 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 released its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the previous year, the company posted ($0.23) earnings per share. On average, equities research analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In related news, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total value of $1,151,697.30. Following the completion of the sale, the director now directly owns 2,590,583 shares in the company, valued at $15,517,592.17. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael O. Mccarthy III sold 106,084 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $5.90, for a total value of $625,895.60. Following the completion of the sale, the insider now owns 1,181,884 shares of the company’s stock, valued at $6,973,115.60. The trade was a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 702,057 shares of company stock worth $3,982,909 over the last three months. Company insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

A number of large investors have recently bought and sold shares of QS. Vanguard Group Inc. grew its holdings in QuantumScape by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after acquiring an additional 656,646 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of QuantumScape during the 2nd quarter worth about $1,950,000. American Century Companies Inc. boosted its position in shares of 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 purchasing an additional 316,361 shares in the last quarter. Geode Capital Management LLC boosted its position 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 worth $33,671,000 after purchasing an additional 218,743 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of QuantumScape during the 1st quarter worth about $1,002,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

About QuantumScape

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.