QuantumScape (NYSE:QS) Stock Price Up 0.9% – What’s Next?

QuantumScape Co. (NYSE:QS)’s stock price rose 0.9% on Thursday . The company traded as high as $5.44 and last traded at $5.36. Approximately 3,301,066 shares changed hands during trading, a decline of 84% from the average daily volume of 20,179,680 shares. The stock had previously closed at $5.31.

Analyst Ratings Changes

Several research analysts have issued reports on QS shares. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th. Finally, Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Stock Up 1.0 %

The company has a market cap of $2.75 billion, a price-to-earnings ratio of -5.64 and a beta of 4.46. The stock’s 50-day moving average is $5.24 and its 200-day moving average is $5.70. The company has a current ratio of 14.07, a quick 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the prior year, the company earned ($0.23) EPS. On average, analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of QuantumScape 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 owns 241,195 shares in the company, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jagdeep Singh sold 308,097 shares of the 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 completion of the sale, the director now directly owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. This trade represents a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 536,460 shares of company stock worth $2,903,619 over the last quarter. 12.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Canada Pension Plan Investment Board purchased a new stake in QuantumScape in the 2nd quarter valued at about $1,950,000. American Century Companies Inc. grew its holdings 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 valued at $1,733,000 after acquiring an additional 316,361 shares in the last quarter. Geode Capital Management LLC lifted its holdings in QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after acquiring an additional 218,743 shares during the period. Weiss Asset Management LP bought a new stake in QuantumScape during the third quarter worth $828,000. Finally, Nisa Investment Advisors LLC boosted its position in QuantumScape by 6,650.0% in the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after purchasing an additional 133,000 shares during the last quarter. 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.