QuantumScape (NYSE:QS) Trading 1.8% Higher – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s share price shot up 1.8% during trading on Friday . The stock traded as high as $5.32 and last traded at $5.27. 3,628,347 shares changed hands during trading, a decline of 79% from the average session volume of 17,612,559 shares. The stock had previously closed at $5.17.

Wall Street Analyst Weigh In

Several research firms recently commented on QS. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. HSBC raised 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. Finally, Truist Financial reissued a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Price Performance

The firm has a 50 day moving average of $5.27 and a 200-day moving average of $5.70. The company has a market cap of $2.68 billion, a P/E ratio of -5.50 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.

QuantumScape (NYSE:QS) last issued its earnings results 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 quarter in the prior year, the company earned ($0.23) earnings per share. On average, equities research analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other news, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the completion of the transaction, the director now owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. This trade represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 536,460 shares of company stock valued at $2,903,619 in the last quarter. 12.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Heck Capital Advisors LLC purchased a new position in shares of QuantumScape in the 4th quarter worth approximately $26,000. KBC Group NV boosted its holdings in QuantumScape by 14.0% during the 4th quarter. KBC Group NV now owns 59,982 shares of the company’s stock valued at $311,000 after acquiring an additional 7,360 shares during the period. Blue Trust Inc. boosted its holdings in QuantumScape by 208.8% during the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after acquiring an additional 4,556 shares during the period. PFG Investments LLC boosted its holdings in QuantumScape by 83.7% during the 4th quarter. PFG Investments LLC now owns 37,496 shares of the company’s stock valued at $195,000 after acquiring an additional 17,081 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new position in QuantumScape during the 4th quarter valued at $65,000. Hedge funds and other institutional investors 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.