QuantumScape (NYSE:QS) Stock Price Up 0.4% – What’s Next?

QuantumScape Co. (NYSE:QS) was up 0.4% during mid-day trading on Monday . The stock traded as high as $5.19 and last traded at $5.04. Approximately 4,468,789 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 9,406,126 shares. The stock had previously closed at $5.02.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research report on Tuesday, November 19th. Truist Financial reiterated a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Wolfe Research started coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock 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 50-day moving average of $5.15 and a 200 day moving average of $5.64. The stock has a market cap of $2.75 billion, a PE ratio of -5.65 and a beta of 4.50.

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

Insider Activity

In other QuantumScape news, Director Jagdeep Singh sold 5,531 shares of the company’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 transaction, the director now owns 2,590,583 shares of the company’s stock, valued at $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael O. Mccarthy III sold 27,305 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.07, for a total transaction of $138,436.35. Following the transaction, the insider now directly owns 1,129,167 shares of the company’s stock, valued at approximately $5,724,876.69. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 666,032 shares of company stock valued at $3,549,682 in the last 90 days. Company insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

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