QuantumScape (NYSE:QS) Stock Price Up 8.1% – Still a Buy?

QuantumScape Co. (NYSE:QS)’s share price shot up 8.1% during mid-day trading on Thursday . The stock traded as high as $5.67 and last traded at $5.61. 7,741,869 shares traded hands during mid-day 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 analysts have recently weighed in on QS shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Trading Up 8.3 %

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 business’s 50-day moving average is $5.16 and its two-hundred day moving average is $5.65. The firm has a market cap of $3.07 billion, a P/E ratio of -6.32 and a beta of 4.50.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the company posted ($0.23) earnings per share. As a group, analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 763,337 shares of company stock valued at $4,156,865 in the last 90 days. 12.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently modified their holdings of QS. Bank of New York Mellon Corp grew its stake in 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 buying an additional 11,897 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of QuantumScape by 2.6% in the second quarter. Commonwealth Equity Services LLC now owns 367,887 shares of the company’s stock valued at $1,810,000 after purchasing an additional 9,290 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of QuantumScape during the second quarter worth approximately $61,000. Arizona State Retirement System lifted its holdings in QuantumScape by 4.6% during the 2nd quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock worth $486,000 after purchasing an additional 4,330 shares during the last quarter. Finally, Ground Swell Capital LLC bought a new stake in QuantumScape in the 2nd quarter valued at $95,000. 29.87% of the stock is owned by institutional investors.

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.