QuantumScape (NYSE:QS) Sees Large Volume Increase – Still a Buy?

QuantumScape Co. (NYSE:QS) shares saw strong trading volume on Monday . 13,451,647 shares changed hands during mid-day trading, an increase of 49% from the previous session’s volume of 9,028,205 shares.The stock last traded at $5.45 and had previously closed at $5.00.

Wall Street Analyst Weigh In

QS has been the subject of several research analyst reports. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Finally, Truist Financial restated 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. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, QuantumScape presently has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Trading Down 4.5 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The business has a 50-day moving average price of $5.25 and a two-hundred day moving average price of $5.69. The firm has a market cap of $2.56 billion, a PE ratio of -5.27 and a beta of 4.50.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the firm posted ($0.23) earnings per share. Analysts forecast that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 106,084 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $5.90, for a total transaction of $625,895.60. Following the completion of the sale, the insider now directly owns 1,181,884 shares in the company, valued at $6,973,115.60. This represents a 8.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the sale, the director now owns 2,590,583 shares of the company’s stock, valued at $12,978,820.83. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,039,821 shares of company stock worth $5,767,125 in the last 90 days. 12.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its stake 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 in the last quarter. International Assets Investment Management LLC increased its stake in shares of QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares during the last quarter. CWM LLC raised its holdings in QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after acquiring an additional 2,556 shares in the last quarter. Alaska Wealth Advisors bought a new position in QuantumScape during the 2nd quarter valued at $49,000. Finally, Centaurus Financial Inc. bought a new stake in shares of QuantumScape in the 2nd quarter worth about $52,000. 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.