QuantumScape (NYSE:QS) Trading 5.8% Higher – Still a Buy?

QuantumScape Co. (NYSE:QS)’s stock price traded up 5.8% during mid-day trading on Monday . The company traded as high as $5.52 and last traded at $5.46. 7,066,804 shares changed hands during trading, a decline of 20% from the average session volume of 8,858,356 shares. The stock had previously closed at $5.16.

Analysts Set New Price Targets

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

QuantumScape Trading Up 0.4 %

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 company’s 50-day moving average price is $5.37 and its 200-day moving average price is $5.74. The firm has a market capitalization of $2.65 billion, a PE ratio of -5.45 and a beta of 4.60.

QuantumScape (NYSE:QS) last announced its quarterly 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 in the prior year, the firm earned ($0.23) earnings per share. On average, sell-side analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 55,647 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the transaction, the chief financial officer now owns 1,022,743 shares of the company’s stock, valued at approximately $5,164,852.15. This trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jurgen Leohold sold 17,435 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.00, for a total value of $104,610.00. Following the completion of the sale, the director now directly owns 194,904 shares of the company’s stock, valued at $1,169,424. The trade was a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 702,057 shares of company stock worth $3,982,909 over the last 90 days. 12.03% of the stock is owned by insiders.

Institutional Investors Weigh In On QuantumScape

Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its position in QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after purchasing an additional 133,000 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of QuantumScape in the second quarter valued at about $1,950,000. Sanctuary Advisors LLC acquired a new stake in shares of QuantumScape during the second quarter worth about $680,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of QuantumScape during the second quarter worth about $644,000. Finally, American Century Companies Inc. increased its position in QuantumScape by 880.6% in the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after acquiring an additional 316,361 shares during the period. 29.87% of the stock is 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.