QuantumScape (NYSE:QS) Shares Up 11.8% – Still a Buy?

QuantumScape Co. (NYSE:QS) was up 11.8% during mid-day trading on Monday . The stock traded as high as $6.84 and last traded at $6.71. Approximately 16,077,159 shares were traded during trading, a decline of 15% from the average daily volume of 18,948,365 shares. The stock had previously closed at $6.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on QS shares. 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. 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 note on Friday, October 25th. Hsbc Global Res raised QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. One investment 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 stock has an average rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Performance

The firm has a fifty day moving average of $5.16 and a 200-day moving average of $5.66. The firm has a market cap of $3.36 billion, a P/E ratio of -6.91 and a beta of 4.46. 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 issued its 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 previous year, the company posted ($0.23) earnings per share. Research analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jagdeep Singh sold 308,097 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the transaction, the director now owns 2,563,767 shares in the company, valued at $13,587,965.10. This trade represents a 10.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 571,067 shares of company stock valued at $3,093,612. 12.03% of the stock is owned by insiders.

Hedge Funds Weigh In On QuantumScape

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its position in QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the last quarter. International Assets Investment Management LLC raised its holdings in QuantumScape by 475.1% in 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 period. Centaurus Financial Inc. bought a new position in QuantumScape in the 2nd quarter worth $52,000. Atom Investors LP bought a new stake in QuantumScape during the third quarter valued at about $60,000. Finally, CIBC Asset Management Inc bought a new stake in QuantumScape during the second quarter valued at about $61,000. 29.87% of the stock is currently 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.