QuantumScape (NYSE:QS) Trading Up 0.4% – Should You Buy?

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

Analysts Set New Price Targets

Several brokerages recently commented on QS. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research began coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Performance

The firm has a 50 day moving average of $5.17 and a two-hundred day moving average of $5.64. The stock has a market cap of $2.62 billion, a P/E ratio of -5.38 and a beta of 4.50. 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 posted its quarterly earnings data 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 period in the prior year, the company posted ($0.23) EPS. On average, research analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 29,667 shares of QuantumScape stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $5.10, for a total transaction of $151,301.70. Following the completion of the transaction, the chief financial officer now directly owns 1,024,325 shares of the company’s stock, valued at approximately $5,224,057.50. This trade represents a 2.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the sale, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 666,032 shares of company stock worth $3,549,682. 12.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of QuantumScape by 1.5% during the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after buying an additional 87,563 shares in the last quarter. Geode Capital Management LLC increased its holdings in QuantumScape by 3.9% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after purchasing an additional 93,826 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in QuantumScape by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock worth $6,785,000 after purchasing an additional 94,103 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of QuantumScape by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock worth $4,579,000 after purchasing an additional 11,897 shares during the last quarter. 29.87% of the stock is owned by institutional investors.

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.