QuantumScape (NYSE:QS) Trading 0.2% Higher – Here’s Why

QuantumScape Co. (NYSE:QS)’s stock price rose 0.2% on Monday . The stock traded as high as $5.44 and last traded at $5.24. Approximately 3,342,172 shares traded hands during trading, a decline of 62% from the average daily volume of 8,854,009 shares. The stock had previously closed at $5.23.

Wall Street Analyst Weigh In

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

QuantumScape Trading Down 1.9 %

The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -5.52 and a beta of 4.60. The business has a 50 day moving average of $5.35 and a 200 day moving average of $5.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

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

Insider Activity at QuantumScape

In other news, Director Jagdeep Singh sold 5,531 shares of QuantumScape 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 completion of the transaction, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Hettrich sold 58,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $5.78, for a total transaction of $335,240.00. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $6,202,067.16. The trade was 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 sold 702,057 shares of company stock valued at $3,982,909. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC increased its stake in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the last quarter. International Assets Investment Management LLC grew its position in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares during the last quarter. CWM LLC raised its stake in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after acquiring an additional 2,556 shares in the last quarter. Mather Group LLC. bought a new position in shares of QuantumScape in the second quarter worth about $36,000. Finally, Alaska Wealth Advisors bought a new stake in shares of QuantumScape during the 2nd quarter valued at approximately $49,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.