QuantumScape (NYSE:QS) Trading Up 5% – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s share price shot up 5% during trading on Tuesday . The company traded as high as $5.35 and last traded at $5.22. 9,371,680 shares changed hands during trading, an increase of 3% from the average session volume of 9,135,107 shares. The stock had previously closed at $4.97.

Wall Street Analyst Weigh In

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

QuantumScape Stock Up 6.8 %

The firm’s 50-day moving average price is $5.20 and its two-hundred day moving average price is $5.66. The firm has a market cap of $2.72 billion, a PE ratio of -5.58 and a beta of 4.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last posted 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 business earned ($0.23) earnings per share. As a group, equities research analysts expect that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In related news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the sale, the director now owns 241,195 shares in the company, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the sale, the director now owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. The trade was a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 666,032 shares of company stock valued at $3,549,682 in the last ninety days. Insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QS. Signaturefd LLC raised its holdings 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 acquiring an additional 2,148 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of 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 purchasing an additional 4,228 shares during the last quarter. CWM LLC grew its holdings in shares of QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares in the last quarter. Centaurus Financial Inc. purchased a new position in shares of QuantumScape during the 2nd quarter worth $52,000. Finally, Financial Advocates Investment Management acquired a new stake in shares of QuantumScape during the second quarter worth $58,000. 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.