QuantumScape (NYSE:QS) Stock Price Up 8.4% – Still a Buy?

QuantumScape Co. (NYSE:QS) shares rose 8.4% during mid-day trading on Thursday . The stock traded as high as $5.36 and last traded at $5.24. Approximately 12,741,313 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 15,329,132 shares. The stock had previously closed at $4.83.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on QS shares. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial cut their target price on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday. 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 note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.06.

QuantumScape Trading Up 1.6 %

The firm has a 50 day simple moving average of $5.27 and a 200 day simple moving average of $5.44. The firm has a market cap of $2.69 billion, a P/E ratio of -5.53 and a beta of 4.45. 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, February 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.01). On average, equities research analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total transaction of $65,056.32. Following the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin Hettrich sold 36,949 shares of QuantumScape stock in a transaction on Monday, January 27th. The stock was sold at an average price of $5.06, for a total transaction of $186,961.94. Following the sale, the chief financial officer now directly owns 1,024,325 shares of the company’s stock, valued at $5,183,084.50. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 567,878 shares of company stock valued at $3,062,871. 12.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV increased its position in shares of QuantumScape by 19.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,199 shares of the company’s stock valued at $94,000 after purchasing an additional 2,997 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in QuantumScape by 9.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 44,087 shares of the company’s stock valued at $229,000 after acquiring an additional 3,787 shares during the last quarter. Northern Trust Corp grew its position in QuantumScape by 8.2% during the fourth quarter. Northern Trust Corp now owns 1,724,845 shares of the company’s stock valued at $8,952,000 after acquiring an additional 130,849 shares during the last quarter. Nebula Research & Development LLC bought a new stake in shares of QuantumScape in the 4th quarter worth approximately $502,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of QuantumScape by 20.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 285,583 shares of the company’s stock valued at $1,483,000 after purchasing an additional 48,701 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.

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.