QuantumScape (NYSE:QS) Shares Up 0.2% – Here’s Why

QuantumScape Co. (NYSE:QS)’s stock price was up 0.2% during trading on Tuesday . The stock traded as high as $5.61 and last traded at $5.50. Approximately 4,893,631 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 9,636,434 shares. The stock had previously closed at $5.49.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on QS shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research began coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research note on Tuesday, November 19th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Truist Financial restated a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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 business has a 50-day moving average price of $5.18 and a two-hundred day moving average price of $5.64. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -5.46 and a beta of 4.50.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period last year, the business posted ($0.23) earnings per share. As a group, research analysts forecast that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In related news, Director Jagdeep Singh sold 308,097 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the completion of the transaction, the director now directly owns 2,563,767 shares of the company’s stock, valued at $13,587,965.10. This represents a 10.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the 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 transaction, the director now directly owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 763,337 shares of company stock worth $4,156,865. 12.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its stake in QuantumScape by 28.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock valued at $930,000 after purchasing an additional 35,579 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of QuantumScape during the 3rd quarter worth $235,000. Barclays PLC boosted its stake in shares of QuantumScape by 326.5% during the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after acquiring an additional 79,871 shares in the last quarter. Geode Capital Management LLC boosted 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 acquiring an additional 218,743 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of QuantumScape by 139.2% during the 3rd quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock worth $265,000 after acquiring an additional 26,820 shares in the last quarter. 29.87% of the stock is 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.