QuantumScape (NYSE:QS) Sees Large Volume Increase - Here's What Happened

QuantumScape Co. (NYSE:QS - Get Free Report) shares saw strong trading volume on Wednesday . 16,277,338 shares were traded during trading, an increase of 77% from the previous session's volume of 9,206,415 shares.The stock last traded at $5.67 and had previously closed at $5.31.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Hsbc Global Res raised shares of QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. Truist Financial restated a "hold" rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. 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. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They issued an "underperform" rating on the stock. Finally, HSBC upgraded QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price target for the company in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, QuantumScape currently has an average rating of "Hold" and a consensus target price of $6.26.

QuantumScape Price Performance

The company has a market cap of $2.60 billion, a price-to-earnings ratio of -5.35 and a beta of 4.50. The company has a 50-day simple moving average of $5.19 and a 200-day simple moving average of $5.66. 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 - Get Free Report) last announced its quarterly earnings data 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 period in the previous year, the business earned ($0.23) earnings per share. As a group, research analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Transactions at QuantumScape

In related news, CFO Kevin Hettrich sold 55,647 shares of QuantumScape stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the completion of the transaction, the chief financial officer now directly owns 1,022,743 shares of the company's stock, valued at approximately $5,164,852.15. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jagdeep Singh sold 308,097 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.30, for a total value of $1,632,914.10. Following the completion of the sale, the director now directly owns 2,563,767 shares in the company, valued at $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 666,032 shares of company stock valued at $3,549,682 in the last ninety days. 12.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QS. Nisa Investment Advisors LLC lifted its stake in QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company's stock valued at $776,000 after buying an additional 133,000 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of QuantumScape in the second quarter worth $1,950,000. Weiss Asset Management LP purchased a new stake in shares of QuantumScape in the third quarter valued at $828,000. Sanctuary Advisors LLC acquired a new stake in shares of QuantumScape during the second quarter valued at $680,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in QuantumScape during the 2nd quarter worth about $644,000. 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.