QuantumScape (NYSE:QS) Shares Up 5% – Still a Buy?

QuantumScape Co. (NYSE:QS) rose 5% during trading on Tuesday . The company traded as high as $5.35 and last traded at $5.22. Approximately 9,371,680 shares changed hands during trading, an increase of 3% from the average daily volume of 9,135,107 shares. The stock had previously closed at $4.97.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QS. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report 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. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research report on Tuesday, November 19th. Finally, Truist Financial reissued a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, QuantumScape currently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Price Performance

The stock has a market cap of $2.72 billion, a price-to-earnings ratio of -5.58 and a beta of 4.50. The company has a 50 day simple moving average of $5.20 and a 200-day simple moving average of $5.66. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced 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 company posted ($0.23) earnings per share. As a group, research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Activity

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This represents a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jagdeep Singh sold 308,097 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the transaction, the director now owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. This represents a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 666,032 shares of company stock valued at $3,549,682. Company insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its position in QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after acquiring an additional 87,563 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after purchasing an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $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 valued at $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 QuantumScape by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock worth $4,579,000 after buying 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.