QuantumScape (NYSE:QS) Stock Price Up 11.8% – Here’s Why

QuantumScape Co. (NYSE:QS) rose 11.8% during trading on Monday . The company traded as high as $6.84 and last traded at $6.71. Approximately 16,077,159 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 18,948,365 shares. The stock had previously closed at $6.00.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QS. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Down 9.1 %

The firm’s fifty day moving average is $5.20 and its 200-day moving average is $5.68. The company has a market capitalization of $2.93 billion, a P/E ratio of -6.02 and a beta of 4.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last posted 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 period in the previous year, the company earned ($0.23) EPS. As a group, equities research analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael O. Mccarthy III sold 27,305 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.07, for a total value of $138,436.35. Following the sale, the insider now owns 1,129,167 shares of the company’s stock, valued at $5,724,876.69. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 536,460 shares of company stock worth $2,903,619 in the last 90 days. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board bought a new stake in QuantumScape during the second quarter valued at $1,950,000. American Century Companies Inc. boosted its position in shares of QuantumScape by 880.6% during the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 stake in QuantumScape in the third quarter worth approximately $828,000. Finally, Nisa Investment Advisors LLC lifted its stake in QuantumScape by 6,650.0% in the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after buying an additional 133,000 shares during the period. 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.