QuantumScape (NYSE:QS) Shares Up 5.1% – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s share price was up 5.1% during mid-day trading on Tuesday . The company traded as high as $4.97 and last traded at $4.97. Approximately 3,475,278 shares changed hands during trading, a decline of 61% from the average daily volume of 8,828,151 shares. The stock had previously closed at $4.73.

Analysts Set New Price Targets

Several research firms have issued reports on QS. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a report on Tuesday. Truist Financial reiterated a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, Wolfe Research started coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating on the stock. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Price Performance

The company has a market cap of $2.52 billion, a P/E ratio of -5.23 and a beta of 4.60. The stock has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $5.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the company posted ($0.23) EPS. On average, equities analysts expect that QuantumScape Co. will post -0.97 EPS for the current year.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 58,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total transaction of $335,240.00. Following the completion of the sale, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at approximately $6,202,067.16. The trade was a 5.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the transaction, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 713,986 shares of company stock valued at $4,148,984. 12.03% of the stock is currently owned by insiders.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently made changes to their positions in QS. Signaturefd LLC grew its stake in shares of QuantumScape by 79.9% during 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 during the period. International Assets Investment Management LLC boosted its holdings in QuantumScape by 475.1% during the third 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 during the last quarter. CWM LLC grew its position in shares of QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the period. Mather Group LLC. acquired a new stake in shares of QuantumScape in the 2nd quarter valued at approximately $36,000. Finally, Alaska Wealth Advisors bought a new position in QuantumScape during the 2nd quarter worth approximately $49,000. 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.