QuantumScape (NYSE:QS) Trading 0.4% Higher – Here’s What Happened

Shares of QuantumScape Co. (NYSE:QS) traded up 0.4% during mid-day trading on Thursday . The company traded as high as $5.31 and last traded at $5.18. 6,556,446 shares were traded during trading, a decline of 26% from the average session volume of 8,891,154 shares. The stock had previously closed at $5.16.

Analysts Set New Price Targets

A number of analysts have weighed in on QS shares. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a report on Tuesday, November 19th. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Wolfe Research started coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Truist Financial reiterated a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, QuantumScape presently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Up 0.4 %

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $5.37 and a two-hundred day simple moving average of $5.74. The stock has a market capitalization of $2.65 billion, a P/E ratio of -5.45 and a beta of 4.60.

QuantumScape (NYSE:QS) last posted its 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 last year, the company earned ($0.23) EPS. Equities research analysts forecast that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the sale, the director now directly owns 2,590,583 shares in the company, valued at $12,978,820.83. This represents a 0.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Hettrich sold 58,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total value of $335,240.00. Following the sale, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at $6,202,067.16. This represents a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 702,057 shares of company stock valued at $3,982,909. 12.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of QuantumScape by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after purchasing an additional 656,646 shares in the last quarter. State Street Corp raised its position in QuantumScape by 1.5% in the 3rd quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after purchasing an additional 87,563 shares during the last quarter. Geode Capital Management LLC lifted 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 worth $33,671,000 after buying an additional 218,743 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after buying an additional 93,826 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of QuantumScape by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after buying an additional 25,347 shares during the period. 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.