QuantumScape (NYSE:QS) Trading Up 0.4% – Time to Buy?

QuantumScape Co. (NYSE:QS) shares rose 0.4% on Tuesday . The stock traded as high as $5.12 and last traded at $5.11. Approximately 2,365,439 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 8,691,610 shares. The stock had previously closed at $5.09.

Analyst Ratings Changes

Several brokerages have recently commented on QS. Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Truist Financial restated a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.14.

QuantumScape Stock Down 3.3 %

The firm’s 50 day simple moving average is $5.60 and its 200 day simple moving average is $5.79. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -5.29 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 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 business posted ($0.23) earnings per share. Sell-side analysts anticipate that QuantumScape Co. will post -0.97 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the completion of the sale, the director now directly owns 254,103 shares in the company, valued at $1,514,453.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.50, for a total value of $1,057,485.00. Following the transaction, the director now owns 2,809,253 shares in the company, valued at approximately $15,450,891.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the sale, the director now directly owns 254,103 shares of the company’s stock, valued at approximately $1,514,453.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 903,591 shares of company stock valued at $5,195,582. Company insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after purchasing an additional 656,646 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of QuantumScape in the second quarter valued at $1,950,000. American Century Companies Inc. boosted its position in shares of QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock worth $1,733,000 after buying an additional 316,361 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of QuantumScape during the first quarter valued at $1,002,000. Finally, Nisa Investment Advisors LLC raised its position in QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after buying an additional 133,000 shares during the period. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.