QuantumScape (NYSE:QS) Trading 8.1% Higher – Here’s Why

Shares of QuantumScape Co. (NYSE:QS) shot up 8.1% during trading on Thursday . The company traded as high as $5.67 and last traded at $5.61. 7,741,869 shares changed hands during trading, a decline of 20% from the average session volume of 9,691,576 shares. The stock had previously closed at $5.19.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on QS shares. 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. Truist Financial restated a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Performance

The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -6.32 and a beta of 4.50. The stock has a fifty day moving average price of $5.16 and a 200-day moving average price of $5.65.

QuantumScape (NYSE:QS) last released 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 period in the previous year, the business posted ($0.23) earnings per share. As a group, analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jagdeep Singh sold 5,531 shares of QuantumScape 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 completion of the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the completion of the sale, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at $5,890,890.78. The trade was a 3.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 763,337 shares of company stock valued at $4,156,865. 12.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC grew its holdings in QuantumScape by 79.9% during the 3rd 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 period. International Assets Investment Management LLC grew its holdings in 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 purchasing an additional 4,228 shares during the period. Atom Investors LP bought a new stake in QuantumScape in the third quarter valued at approximately $60,000. Centaurus Financial Inc. acquired a new stake in QuantumScape in the second quarter worth $52,000. Finally, Nwam LLC bought a new position in shares of QuantumScape during the third quarter worth $64,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.