QuantumScape (NYSE:QS) Shares Up 2.6% – What’s Next?

QuantumScape Co. (NYSE:QS)’s stock price was up 2.6% during mid-day trading on Friday . The stock traded as high as $5.50 and last traded at $5.40. Approximately 3,851,857 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 19,581,479 shares. The stock had previously closed at $5.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial reissued a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Finally, HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Price 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 $2.74 billion, a PE ratio of -5.63 and a beta of 4.46. The business has a 50-day moving average of $5.24 and a 200 day moving average of $5.69.

QuantumScape (NYSE:QS) last released its quarterly 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 in the prior year, the company earned ($0.23) EPS. As a group, research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Activity

In related news, insider Mohit Singh sold 97,305 shares of the business’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 transaction, the insider now directly owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the sale, the director now owns 241,195 shares of the company’s stock, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 536,460 shares of company stock valued at $2,903,619 over the last three months. Corporate insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock valued at $34,031,000 after purchasing an additional 87,563 shares in the last quarter. Geode Capital Management LLC increased 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 valued at $33,671,000 after buying an additional 218,743 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of QuantumScape by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $12,806,000 after buying an additional 93,826 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of QuantumScape by 8.7% in 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 acquiring an additional 94,103 shares during the period. Finally, Arthedge Capital Management LLC grew its stake in QuantumScape by 14.6% during the third quarter. Arthedge Capital Management LLC now owns 723,000 shares of the company’s stock valued at $4,157,000 after acquiring an additional 92,000 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other 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.