QuantumScape (NYSE:QS) Stock Price Up 5.3% – Still a Buy?

QuantumScape Co. (NYSE:QS)’s stock price shot up 5.3% during mid-day trading on Wednesday . The stock traded as high as $5.77 and last traded at $5.53. 8,148,565 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 20,716,193 shares. The stock had previously closed at $5.25.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on QS shares. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a report on Tuesday, November 19th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Trading Down 1.0 %

The firm has a market cap of $2.67 billion, a PE ratio of -5.48 and a beta of 4.46. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average is $5.24 and its 200 day moving average is $5.69.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the business posted ($0.23) EPS. As a group, sell-side analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In related news, insider Michael O. Mccarthy III sold 27,305 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.07, for a total transaction of $138,436.35. Following the completion of the sale, the insider now directly owns 1,129,167 shares of the company’s stock, valued at $5,724,876.69. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the transaction, the director now owns 241,195 shares in the company, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 536,460 shares of company stock worth $2,903,619. 12.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of QuantumScape by 127.0% during the fourth quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock worth $1,062,000 after acquiring an additional 114,504 shares during the last quarter. Guardian Investment Management raised its holdings in QuantumScape by 158.6% during the 4th quarter. Guardian Investment Management now owns 12,490 shares of the company’s stock worth $65,000 after purchasing an additional 7,660 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in QuantumScape by 13.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 112,168 shares of the company’s stock valued at $582,000 after purchasing an additional 13,177 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of 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 purchasing an additional 35,579 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of QuantumScape during the 3rd quarter worth approximately $235,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.