QuantumScape (NYSE:QS) Trading Up 0.3% – Should You Buy?

Shares of QuantumScape Co. (NYSE:QS) traded up 0.3% on Tuesday . The stock traded as high as $5.33 and last traded at $5.24. 5,767,143 shares changed hands during trading, a decline of 70% from the average session volume of 19,124,447 shares. The stock had previously closed at $5.22.

Analyst Ratings Changes

A number of research firms recently issued reports on QS. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Up 3.1 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The firm’s 50 day moving average is $5.26 and its two-hundred day moving average is $5.70. The firm has a market capitalization of $2.66 billion, a P/E ratio of -5.46 and a beta of 4.46.

QuantumScape (NYSE:QS) last released 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 business posted ($0.23) EPS. Research analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Activity

In other news, CFO Kevin Hettrich sold 55,647 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 1,022,743 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $27,710.31. Following the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 536,460 shares of company stock valued at $2,903,619 over the last ninety days. 12.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Institutional investors and hedge funds have recently modified their holdings of the business. Heck Capital Advisors LLC acquired a new position in QuantumScape in the 4th quarter valued at $26,000. Signaturefd LLC increased its position in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC increased its position in shares of QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares during the period. Blue Trust Inc. raised its stake in QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after purchasing an additional 4,556 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new stake in QuantumScape during the second quarter worth about $52,000. 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.