QuantumScape (NYSE:QS) Trading Up 5.3% – Time to Buy?

QuantumScape Co. (NYSE:QS)’s stock price shot up 5.3% during mid-day trading on Wednesday . The stock traded as high as $5.77 and last traded at $5.53. 8,148,565 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 20,716,193 shares. The stock had previously closed at $5.25.

Analyst Ratings Changes

QS has been the subject of a number of recent analyst reports. Truist Financial reiterated a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. 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 research report on Tuesday, November 19th. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Price Performance

The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $5.24 and a two-hundred day moving average price of $5.69. The firm has a market cap of $2.67 billion, a P/E ratio of -5.48 and a beta of 4.46.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the previous year, the business posted ($0.23) EPS. Equities analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Activity at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction 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 directly owns 241,195 shares in the company, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jagdeep Singh sold 308,097 shares of QuantumScape 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 sale, the director now directly 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. In the last ninety days, insiders have sold 536,460 shares of company stock valued at $2,903,619. 12.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QS. State Street Corp grew its stake in shares of QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock valued at $34,031,000 after buying an additional 87,563 shares in the last quarter. Geode Capital Management LLC increased 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 worth $33,671,000 after purchasing an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after purchasing an additional 93,826 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in QuantumScape by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock valued at $6,785,000 after purchasing an additional 94,103 shares during the last quarter. Finally, Arthedge Capital Management LLC grew its holdings in QuantumScape by 14.6% during the third quarter. Arthedge Capital Management LLC now owns 723,000 shares of the company’s stock worth $4,157,000 after purchasing an additional 92,000 shares during the period. 29.87% of the stock is currently owned by institutional investors.

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.