QuantumScape (NYSE:QS) Trading Up 5.8% – What’s Next?

QuantumScape Co. (NYSE:QS)’s share price shot 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 were traded 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

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

QuantumScape Stock Up 3.7 %

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.74 billion, a P/E ratio of -5.66 and a beta of 4.60. The business’s 50 day moving average is $5.41 and its 200 day moving average is $5.74.

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 analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the firm posted ($0.23) earnings per share. As a group, equities analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, insider Michael O. Mccarthy III sold 106,084 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $5.90, for a total value of $625,895.60. Following the completion of the sale, the insider now owns 1,181,884 shares of the company’s stock, valued at $6,973,115.60. This trade represents a 8.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jurgen Leohold sold 17,435 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.00, for a total value of $104,610.00. Following the transaction, the director now owns 194,904 shares in the company, valued at approximately $1,169,424. This trade represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 702,057 shares of company stock valued at $3,982,909. 12.03% of the stock is currently owned by insiders.

Institutional Trading of QuantumScape

Several large investors have recently bought and sold shares of QS. Vanguard Group Inc. grew its stake in QuantumScape by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after purchasing an additional 656,646 shares during the last quarter. Janus Henderson Group PLC increased its holdings in QuantumScape by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock worth $11,482,000 after buying an additional 25,347 shares during the period. California State Teachers Retirement System raised its position in QuantumScape by 2.3% during the 1st quarter. California State Teachers Retirement System now owns 344,306 shares of the company’s stock worth $2,166,000 after buying an additional 7,585 shares during the last quarter. Tidal Investments LLC lifted its stake in QuantumScape by 202.0% during the 1st quarter. Tidal Investments LLC now owns 137,755 shares of the company’s stock valued at $866,000 after acquiring an additional 92,142 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in QuantumScape during the 1st quarter valued at approximately $1,002,000. Hedge funds and other institutional investors 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.