QuantumScape (NYSE:QS) Shares Up 3.2% – What’s Next?

QuantumScape Co. (NYSE:QS)’s stock price shot up 3.2% on Wednesday . The company traded as high as $5.17 and last traded at $5.11. 3,605,205 shares traded hands during trading, a decline of 59% from the average session volume of 8,833,886 shares. The stock had previously closed at $4.95.

Analyst Ratings Changes

QS has been the subject of several research analyst reports. Truist Financial restated 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. HSBC raised 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. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Performance

The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -5.38 and a beta of 4.60. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The stock’s 50-day moving average price is $5.46 and its 200-day moving average price is $5.75.

QuantumScape (NYSE:QS) last issued 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 quarter last year, the firm posted ($0.23) earnings per share. As a group, equities research analysts expect that QuantumScape Co. will post -0.97 earnings per share for the current year.

Insider Buying and Selling

In other 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 transaction of $27,710.31. Following the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 58,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total value of $335,240.00. Following the sale, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at approximately $6,202,067.16. This trade represents a 5.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 606,197 shares of company stock valued at $3,498,399. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently made changes to their positions in QS. Vanguard Group Inc. boosted its stake in QuantumScape by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after acquiring an additional 656,646 shares during the last quarter. State Street Corp grew 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 worth $34,031,000 after purchasing an additional 87,563 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 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 shares of QuantumScape by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after acquiring an additional 93,826 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in QuantumScape by 1.4% during the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock worth $11,482,000 after purchasing an additional 25,347 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.