QuantumScape (NYSE:QS) Stock Price Up 8.4% – Time to Buy?

QuantumScape Co. (NYSE:QS) shares traded up 8.4% during trading on Thursday . The stock traded as high as $5.36 and last traded at $5.24. 12,741,313 shares were traded during mid-day trading, a decline of 17% from the average session volume of 15,329,132 shares. The stock had previously closed at $4.83.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Hsbc Global Res raised QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Truist Financial decreased their target price on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.06.

QuantumScape Trading Up 1.6 %

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 firm has a market cap of $2.69 billion, a PE ratio of -5.53 and a beta of 4.45. The firm has a fifty day simple moving average of $5.27 and a two-hundred day simple moving average of $5.44.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). Equities analysts forecast that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Activity

In other QuantumScape news, CFO Kevin Hettrich sold 36,949 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $5.06, for a total transaction of $186,961.94. Following the completion of the transaction, the chief financial officer now owns 1,024,325 shares of the company’s stock, valued at approximately $5,183,084.50. This trade represents a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now directly owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 567,878 shares of company stock worth $3,062,871 in the last quarter. 12.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QS. Mercer Global Advisors Inc. ADV boosted its holdings in QuantumScape by 19.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,199 shares of the company’s stock worth $94,000 after acquiring an additional 2,997 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of QuantumScape by 9.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 44,087 shares of the company’s stock worth $229,000 after purchasing an additional 3,787 shares during the last quarter. Northern Trust Corp boosted its stake in QuantumScape by 8.2% in the 4th quarter. Northern Trust Corp now owns 1,724,845 shares of the company’s stock worth $8,952,000 after purchasing an additional 130,849 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in QuantumScape during the 4th quarter valued at about $502,000. Finally, Price T Rowe Associates Inc. MD increased its stake in QuantumScape by 20.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 285,583 shares of the company’s stock valued at $1,483,000 after purchasing an additional 48,701 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.