QuantumScape (NYSE:QS) Shares Up 1% – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s share price was up 1% on Friday . The company traded as high as $5.11 and last traded at $5.09. Approximately 1,306,956 shares traded hands during trading, a decline of 85% from the average daily volume of 8,825,269 shares. The stock had previously closed at $5.04.

Analyst Ratings Changes

A number of analysts have weighed in on QS shares. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. HSBC raised 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. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, Wolfe Research began coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Performance

The stock’s 50-day moving average price is $5.43 and its 200-day moving average price is $5.74. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -5.36 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.

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 period in the previous year, the business earned ($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 Transactions at QuantumScape

In related news, Director Jurgen Leohold sold 17,435 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.00, for a total value of $104,610.00. Following the completion of the transaction, the director now owns 194,904 shares of the company’s stock, valued at approximately $1,169,424. The trade was a 8.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of QuantumScape stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 606,197 shares of company stock valued at $3,498,399 in the last 90 days. 12.03% of the stock is currently owned by insiders.

Institutional Trading of QuantumScape

A number of hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after purchasing an additional 4,228 shares in the last quarter. CWM LLC lifted its stake in shares of QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares in the last quarter. Mather Group LLC. acquired a new position in shares of QuantumScape in the 2nd quarter valued at about $36,000. Finally, Alaska Wealth Advisors acquired a new position in shares of QuantumScape in the 2nd quarter valued at about $49,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.