QuantumScape (NYSE:QS) Trading Up 0.2% – Time to Buy?

QuantumScape Co. (NYSE:QS)’s share price traded up 0.2% during mid-day trading on Monday . The company traded as high as $5.44 and last traded at $5.24. 3,342,172 shares changed hands during trading, a decline of 62% from the average session volume of 8,854,009 shares. The stock had previously closed at $5.23.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research note on Tuesday, November 19th. Finally, Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and seven have given 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 target price of $6.26.

QuantumScape Stock Performance

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 has a market cap of $2.63 billion, a PE ratio of -5.52 and a beta of 4.60. The firm has a fifty day moving average price of $5.35 and a 200 day moving average price of $5.72.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the prior year, the business earned ($0.23) earnings per share. Research analysts forecast that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kevin Hettrich sold 55,647 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the transaction, the chief financial officer now owns 1,022,743 shares in the company, valued at $5,164,852.15. This trade represents a 5.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of the company’s 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 transaction, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 702,057 shares of company stock valued at $3,982,909 over the last ninety days. Company insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC grew its position in QuantumScape by 28.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock valued at $930,000 after acquiring an additional 35,579 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of QuantumScape in the 3rd quarter valued at approximately $235,000. Barclays PLC lifted its position in shares of QuantumScape by 326.5% during the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after buying an additional 79,871 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the period. Finally, M&T Bank Corp boosted its position in shares of QuantumScape by 139.2% during the 3rd quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock worth $265,000 after purchasing an additional 26,820 shares in the last quarter. 29.87% of the stock is currently 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.