QuantumScape (NYSE:QS) Shares Up 5.8% – What’s Next?

QuantumScape Co. (NYSE:QS) traded up 5.8% during mid-day trading on Monday . The stock traded as high as $5.52 and last traded at $5.46. 7,066,804 shares changed hands during trading, a decline of 20% from the average session volume of 8,858,356 shares. The stock had previously closed at $5.16.

Wall Street Analysts Forecast Growth

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

QuantumScape Stock Up 3.7 %

The company has a market capitalization of $2.74 billion, a PE ratio of -5.66 and a beta of 4.60. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $5.41 and a 200 day moving average of $5.74.

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

Insider Activity

In other QuantumScape news, Director Jurgen Leohold sold 17,435 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $6.00, for a total transaction of $104,610.00. Following the completion of the sale, the director now directly owns 194,904 shares in the company, valued at $1,169,424. The trade was a 8.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the transaction, the director now directly owns 241,195 shares in the company, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 702,057 shares of company stock valued at $3,982,909. Company insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after acquiring an additional 656,646 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of QuantumScape in the second quarter worth about $1,950,000. American Century Companies Inc. lifted its position 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 worth $1,733,000 after buying an additional 316,361 shares in the last quarter. Geode Capital Management LLC boosted its stake in QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after buying an additional 218,743 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in QuantumScape during the 1st quarter valued at approximately $1,002,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

About QuantumScape

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.