QuantumScape (NYSE:QS) Sees Unusually-High Trading Volume – Here’s Why

QuantumScape Co. (NYSE:QS) saw an uptick in trading volume on Thursday . 4,444,048 shares were traded during trading, a decline of 53% from the previous session’s volume of 9,411,777 shares.The stock last traded at $5.63 and had previously closed at $5.37.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial reaffirmed a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Wolfe Research started coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Finally, HSBC raised shares of 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. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock 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 firm has a market capitalization of $3.05 billion, a PE ratio of -6.26 and a beta of 4.50. The stock’s 50 day moving average price is $5.18 and its two-hundred day moving average price is $5.64.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share 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 analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Buying and Selling at QuantumScape

In related news, Director Jagdeep Singh sold 308,097 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction dated Friday, December 27th. The shares were 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 owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their position. 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. Corporate insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently modified their holdings of QS. Sanctuary Advisors LLC raised its stake in QuantumScape by 28.2% during the third quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after purchasing an additional 35,579 shares during the period. Virtu Financial LLC purchased a new position in shares of QuantumScape in the 3rd quarter worth $235,000. Barclays PLC boosted its holdings in QuantumScape by 326.5% in the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock valued at $599,000 after acquiring an additional 79,871 shares during the last quarter. Geode Capital Management LLC grew its position in QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after acquiring an additional 218,743 shares during the period. Finally, M&T Bank Corp increased its stake in QuantumScape by 139.2% during the third 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 during the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.

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.