QuantumScape (NYSE:QS) Stock Price Up 7.8%

QuantumScape Co. (NYSE:QS)’s stock price rose 7.8% on Wednesday . The stock traded as high as $6.33 and last traded at $6.20. Approximately 4,321,227 shares were traded during trading, a decline of 57% from the average daily volume of 10,130,722 shares. The stock had previously closed at $5.75.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Truist Financial lifted their price target on QuantumScape from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. Robert W. Baird upped their target price on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. HSBC started coverage on shares of QuantumScape in a research report on Monday, December 4th. They set a “reduce” rating and a $4.70 price objective for the company. Finally, William Blair began coverage on QuantumScape in a research note on Monday, December 18th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, QuantumScape presently has a consensus rating of “Hold” and a consensus price target of $6.71.

QuantumScape Price Performance

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 business’s 50 day simple moving average is $6.50 and its 200 day simple moving average is $6.54.

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

Insider Activity

In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $6.51, for a total transaction of $225,291.57. Following the completion of the transaction, the chief financial officer now directly owns 575,936 shares of the company’s stock, valued at approximately $3,749,343.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $6.75, for a total value of $467,835.75. Following the completion of the transaction, the director now directly owns 292,644 shares of the company’s stock, valued at $1,975,347. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated 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 approximately $3,749,343.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 478,279 shares of company stock worth $3,584,735. Corporate insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Large investors have recently modified their holdings of the stock. Clear Street Markets LLC acquired a new stake in shares of QuantumScape in the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC boosted its position in QuantumScape by 49.6% in the 3rd 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 last quarter. 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 buying an additional 1,500 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in shares of QuantumScape in the 2nd quarter valued at $39,000. Finally, Level Financial Advisors Inc. bought a new stake in shares of QuantumScape during the third quarter worth $42,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.