QuantumScape (NYSE:QS) Trading Up 3.1% – What’s Next?

QuantumScape Co. (NYSE:QS)’s share price shot up 3.1% on Tuesday . The stock traded as high as $5.32 and last traded at $5.31. 3,272,386 shares traded hands during trading, a decline of 65% from the average session volume of 9,407,486 shares. The stock had previously closed at $5.15.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wolfe Research began coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Truist Financial reissued a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, QuantumScape has an average rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Up 4.3 %

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 firm has a fifty day moving average of $5.16 and a 200-day moving average of $5.64. The firm has a market cap of $2.75 billion, a P/E ratio of -5.65 and a beta of 4.50.

QuantumScape (NYSE:QS) last released its quarterly earnings data 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 quarter in the prior year, the business earned ($0.23) earnings per share. On average, equities research analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Transactions at QuantumScape

In related news, insider Michael O. Mccarthy III sold 27,305 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.07, for a total value of $138,436.35. Following the sale, the insider now owns 1,129,167 shares in the company, valued at approximately $5,724,876.69. This represents a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of QuantumScape stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 666,032 shares of company stock worth $3,549,682 in the last ninety days. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock valued at $34,031,000 after purchasing an additional 87,563 shares in the last quarter. Geode Capital Management LLC increased its stake in QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after acquiring an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in QuantumScape by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after purchasing an additional 93,826 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in QuantumScape by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock worth $6,785,000 after purchasing an additional 94,103 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of QuantumScape by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock valued at $4,579,000 after purchasing an additional 11,897 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.

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.