QuantumScape (NYSE:QS) Trading 0.9% Higher

QuantumScape Co. (NYSE:QS)’s stock price traded up 0.9% during trading on Tuesday . The company traded as high as $5.96 and last traded at $5.87. 1,654,622 shares were traded during trading, a decline of 84% from the average session volume of 10,194,324 shares. The stock had previously closed at $5.82.

Analysts Set New Price Targets

A number of research firms recently weighed in on QS. William Blair began coverage on shares of QuantumScape in a research report on Monday, December 18th. They issued a “market perform” rating for the company. Truist Financial raised their target price on shares of QuantumScape from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Robert W. Baird raised their target price on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, HSBC began coverage on shares of QuantumScape in a research report on Monday, December 4th. They issued a “reduce” rating and a $4.70 price objective for the company. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.71.

QuantumScape Stock Up 8.2 %

The firm has a market cap of $3.08 billion, a P/E ratio of -6.48 and a beta of 4.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98. The firm’s fifty day moving average is $6.50 and its 200 day moving average is $6.54.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same period in the prior year, the business earned ($0.25) earnings per share. As a group, equities research analysts anticipate that QuantumScape Co. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the completion of the transaction, the insider now directly owns 731,629 shares in the company, valued at approximately $4,514,150.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Michael O. Mccarthy III sold 21,840 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the completion of the transaction, the insider now owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $6.51, for a total transaction of $225,291.57. Following the sale, the chief financial officer now directly owns 575,936 shares in the company, valued at $3,749,343.36. The disclosure for this sale can be found here. Insiders sold a total of 478,279 shares of company stock worth $3,584,735 in the last ninety days. 10.18% of the stock is owned by insiders.

Hedge Funds Weigh In On QuantumScape

Hedge funds have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. bought a new position in QuantumScape during the 2nd quarter worth approximately $39,000. Tower Research Capital LLC TRC lifted its stake in QuantumScape by 49.6% in the third quarter. Tower Research Capital LLC TRC now owns 5,142 shares of the company’s stock valued at $34,000 after buying an additional 1,704 shares during the period. Spire Wealth Management increased its stake in shares of QuantumScape by 39.0% in the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares in the last quarter. Clear Street Markets LLC bought a new stake in QuantumScape in the fourth quarter valued at $32,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of QuantumScape during the first quarter valued at about $120,000. 29.87% of the stock is currently owned by institutional investors.

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.