QuantumScape (NYSE:QS) Trading Up 8.1% – Still a Buy?

Shares of QuantumScape Co. (NYSE:QS) traded up 8.1% on Thursday . The stock traded as high as $5.67 and last traded at $5.61. 7,741,869 shares traded hands during trading, a decline of 20% from the average session volume of 9,691,576 shares. The stock had previously closed at $5.19.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial restated a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Wolfe Research assumed coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. Hsbc Global Res upgraded 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 report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, QuantumScape currently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Trading Up 2.9 %

The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $5.18 and a two-hundred day moving average of $5.64. The firm has a market capitalization of $2.74 billion, a P/E ratio of -5.62 and a beta of 4.50.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the prior year, the business posted ($0.23) EPS. On average, analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were 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 directly owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the transaction, the director now owns 2,563,767 shares in the company, 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. Over the last quarter, insiders have sold 763,337 shares of company stock valued at $4,156,865. 12.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

Institutional investors and hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new position in QuantumScape in the second quarter valued at $1,950,000. American Century Companies Inc. grew its holdings in QuantumScape by 880.6% during the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock worth $1,733,000 after acquiring an additional 316,361 shares during the period. Geode Capital Management LLC raised its position in shares of QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after acquiring an additional 218,743 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of QuantumScape in the 3rd quarter valued at about $828,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of QuantumScape by 6,650.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after purchasing an additional 133,000 shares in the last quarter. Institutional investors and hedge funds 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.