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

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

Wall Street Analyst Weigh In

QS has been the topic of a number of recent research reports. HSBC raised 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. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Truist Financial restated a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, QuantumScape has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Trading Up 9.3 %

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 company’s fifty day moving average is $5.16 and its 200-day moving average is $5.66. The stock has a market cap of $3.36 billion, a PE ratio of -6.91 and a beta of 4.46.

QuantumScape (NYSE:QS) last released its quarterly 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 quarter last year, the firm earned ($0.23) EPS. On average, analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, Director Jagdeep Singh sold 5,531 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the transaction, the director now owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mohit Singh sold 97,305 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the sale, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. 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. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several hedge funds have recently added to or reduced their stakes in QS. Signaturefd LLC boosted its position in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of QuantumScape by 32.4% in the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after buying an additional 3,310 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in QuantumScape by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock valued at $413,000 after purchasing an additional 3,527 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of QuantumScape by 4.6% during the second quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock valued at $486,000 after acquiring an additional 4,330 shares during the period. 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.