QuantumScape (NYSE:QS) Shares Up 4.9% – Time to Buy?

QuantumScape Co. (NYSE:QS)’s stock price was up 4.9% during mid-day trading on Friday . The company traded as high as $5.87 and last traded at $5.81. Approximately 7,313,977 shares traded hands during trading, a decline of 42% from the average daily volume of 12,596,814 shares. The stock had previously closed at $5.54.

Wall Street Analysts Forecast Growth

QS has been the topic of a number of recent research reports. Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research note on Tuesday, November 19th. Finally, Truist Financial restated a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Trading Up 8.3 %

The stock’s 50 day simple moving average is $5.16 and its 200 day simple moving average is $5.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The firm has a market cap of $3.07 billion, a PE ratio of -6.32 and a beta of 4.50.

QuantumScape (NYSE:QS) last announced its earnings results 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 posted ($0.23) EPS. On average, sell-side analysts forecast that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the transaction, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at approximately $5,890,890.78. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the completion of the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at $14,325,923.99. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 763,337 shares of company stock worth $4,156,865. 12.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

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