QuantumScape (NYSE:QS) Stock Price Up 0.9% – Here’s What Happened

QuantumScape Co. (NYSE:QS) rose 0.9% during mid-day trading on Thursday . The stock traded as high as $5.44 and last traded at $5.36. Approximately 3,301,066 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 20,179,680 shares. The stock had previously closed at $5.31.

Wall Street Analyst Weigh In

QS has been the topic of several analyst reports. Truist Financial reiterated a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a report on Tuesday, November 19th. One equities 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, the company currently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Down 1.0 %

The firm has a fifty day moving average of $5.25 and a 200 day moving average of $5.70. The stock has a market cap of $2.67 billion, a PE ratio of -5.48 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.

QuantumScape (NYSE:QS) last issued its quarterly earnings data 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 period in the prior year, the firm earned ($0.23) earnings per share. On average, equities research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the transaction, the director now owns 241,195 shares of the company’s stock, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Hettrich sold 55,647 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.05, for a total value of $281,017.35. Following the transaction, the chief financial officer now directly owns 1,022,743 shares in the company, valued at approximately $5,164,852.15. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 536,460 shares of company stock valued at $2,903,619. 12.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds have recently added to or reduced their stakes in QS. American Century Companies Inc. lifted its position in QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in QuantumScape in the second quarter valued at about $68,000. Vanguard Personalized Indexing Management LLC lifted its position in QuantumScape by 41.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,877 shares of the company’s stock valued at $127,000 after purchasing an additional 7,624 shares during the period. Hsbc Holdings PLC lifted its position in QuantumScape by 36.0% in the second quarter. Hsbc Holdings PLC now owns 16,737 shares of the company’s stock valued at $82,000 after purchasing an additional 4,433 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in QuantumScape in the second quarter valued at about $1,950,000. 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.