QuantumScape (NYSE:QS) Shares Gap Up – What’s Next?

QuantumScape Co. (NYSE:QS)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $6.00, but opened at $6.34. QuantumScape shares last traded at $6.71, with a volume of 7,276,404 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on QS. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research note on Tuesday, November 19th. Truist Financial reissued a “hold” rating and set a $7.00 target price (up previously 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 research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Down 9.1 %

The firm’s fifty day simple moving average is $5.20 and its two-hundred day simple moving average is $5.68. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -6.02 and a beta of 4.46. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings data 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 posted ($0.23) earnings per share. Sell-side analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Activity at QuantumScape

In other news, CFO Kevin Hettrich sold 55,647 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the sale, the chief financial officer now owns 1,022,743 shares of the company’s stock, valued at approximately $5,164,852.15. This represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction on 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 transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 536,460 shares of company stock worth $2,903,619. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC grew its stake in shares of 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 in the last quarter. Virtu Financial LLC acquired a new position in shares of QuantumScape during the 3rd quarter worth about $235,000. Barclays PLC increased its holdings in shares of QuantumScape by 326.5% in the 3rd 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 raised its holdings in QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after purchasing an additional 218,743 shares in the last quarter. Finally, M&T Bank Corp lifted its position in QuantumScape by 139.2% in the third quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after acquiring an additional 26,820 shares during the last quarter. 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.