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

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

Wall Street Analyst Weigh In

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

QuantumScape Trading Up 0.4 %

The company has a fifty 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. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

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 quarter last year, the company posted ($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 Transactions at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the completion of the transaction, the director now directly owns 241,195 shares of the company’s stock, valued at $1,215,622.80. This represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the transaction, the director now 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 sold 702,057 shares of company stock valued at $3,982,909 over the last quarter. Corporate insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in QuantumScape by 79.9% during 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 last quarter. International Assets Investment Management LLC lifted its position in QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares in the last quarter. CWM LLC boosted its stake in shares of QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the last quarter. Mather Group LLC. bought a new position in shares of QuantumScape in the 2nd quarter valued at about $36,000. Finally, Alaska Wealth Advisors acquired a new stake in shares of QuantumScape in the second quarter valued at about $49,000. 29.87% of the stock is owned by institutional investors.

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.