QuantumScape (NYSE:QS) Shares Up 2.3% – Still a Buy?

Shares of QuantumScape Co. (NYSE:QS) shot up 2.3% during mid-day trading on Thursday . The company traded as high as $5.30 and last traded at $5.22. 3,370,757 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 16,120,904 shares. The stock had previously closed at $5.10.

Wall Street Analyst Weigh In

A number of analysts recently commented on QS shares. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reiterated 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. Finally, HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Price Performance

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.67 billion, a P/E ratio of -5.48 and a beta of 4.46. The firm has a 50 day moving average price of $5.29 and a 200 day moving average price of $5.66.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 36,949 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the sale, the chief financial officer now owns 1,024,325 shares in the company, valued at approximately $5,183,084.50. This represents a 3.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the transaction, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. The trade was a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 573,409 shares of company stock valued at $3,090,581. 12.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of QuantumScape in the fourth quarter worth $57,000. Van ECK Associates Corp increased its holdings in QuantumScape by 9.1% in the 4th quarter. Van ECK Associates Corp now owns 132,885 shares of the company’s stock valued at $690,000 after acquiring an additional 11,050 shares during the last quarter. Essex Financial Services Inc. purchased a new stake in QuantumScape in the 4th quarter worth $54,000. Armor Investment Advisors LLC boosted its holdings in shares of QuantumScape by 4.8% during the 4th quarter. Armor Investment Advisors LLC now owns 117,201 shares of the company’s stock valued at $608,000 after purchasing an additional 5,317 shares during the last quarter. Finally, Powell Investment Advisors LLC purchased a new position in shares of QuantumScape during the fourth quarter valued at about $119,000. 29.87% of the stock is currently 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.