QuantumScape (NYSE:QS) Trading Up 3.1% – Still a Buy?

QuantumScape Co. (NYSE:QS) shot up 3.1% during trading on Tuesday . The stock traded as high as $5.32 and last traded at $5.31. 3,272,386 shares changed 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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on QS shares. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Truist Financial reissued 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 raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price target 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 investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Price Performance

The stock has a market cap of $2.75 billion, a P/E ratio of -5.65 and a beta of 4.50. The business has a 50-day simple moving average of $5.16 and a 200 day simple moving average of $5.64. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the business earned ($0.23) EPS. On average, analysts forecast that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Transactions at QuantumScape

In related news, Director Jagdeep Singh sold 308,097 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the sale, the director now owns 2,563,767 shares in the company, valued at $13,587,965.10. This represents a 10.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now directly owns 241,195 shares of the company’s stock, valued at $1,215,622.80. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 666,032 shares of company stock worth $3,549,682 over the last three months. 12.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of QS. Canada Pension Plan Investment Board bought a new stake in QuantumScape in the 2nd quarter valued at about $1,950,000. American Century Companies Inc. increased its holdings in shares of QuantumScape by 880.6% during the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after acquiring an additional 316,361 shares in the last quarter. Geode Capital Management LLC raised its position in shares of QuantumScape by 3.9% during the third 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 period. Weiss Asset Management LP bought a new position in shares of QuantumScape in the 3rd quarter worth $828,000. Finally, Nisa Investment Advisors LLC grew its position in QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after purchasing an additional 133,000 shares during the period. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.