QuantumScape (NYSE:QS) Trading 0.7% Higher – Here’s Why

QuantumScape Co. (NYSE:QS) shot up 0.7% during trading on Wednesday . The stock traded as high as $5.51 and last traded at $5.49. 3,061,770 shares were traded during trading, a decline of 65% from the average session volume of 8,678,846 shares. The stock had previously closed at $5.45.

Analyst Upgrades and Downgrades

Several research firms have recently commented on QS. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research began coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating for the company. 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. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, QuantumScape has an average rating of “Hold” and a consensus price target of $6.14.

QuantumScape Stock Down 0.4 %

The company’s fifty day moving average is $5.65 and its 200-day moving average is $5.79. The company has a market capitalization of $2.60 billion, a PE ratio of -5.67 and a beta of 4.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last announced 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 quarter last year, the firm earned ($0.23) EPS. As a group, analysts predict that QuantumScape Co. will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total transaction of $76,931.68. Following the completion of the sale, the director now directly owns 254,103 shares of the company’s stock, valued at $1,514,453.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total transaction of $189,992.43. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total value of $76,931.68. Following the transaction, the director now owns 254,103 shares of the company’s stock, valued at $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. Insiders sold a total of 903,591 shares of company stock valued at $5,195,582 in the last three months. 12.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after buying an additional 656,646 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in QuantumScape by 240.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after buying an additional 3,004,964 shares during the last quarter. Baillie Gifford & Co. lifted its position in QuantumScape by 10.3% in the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock worth $16,854,000 after buying an additional 251,186 shares during the last quarter. Janus Henderson Group PLC lifted its position in QuantumScape by 1.4% in the first 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 last quarter. Finally, Bank of New York Mellon Corp increased its stake in QuantumScape by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock worth $4,579,000 after purchasing an additional 11,897 shares during the period. 29.87% of the stock is currently owned by 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.