QuantumScape (NYSE:QS) Sees Large Volume Increase - Time to Buy?

Shares of QuantumScape Co. (NYSE:QS - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 13,451,647 shares were traded during mid-day trading, an increase of 49% from the previous session's volume of 9,028,205 shares.The stock last traded at $5.45 and had previously closed at $5.00.

Analyst Ratings Changes

Several brokerages have issued reports on QS. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They issued an "underperform" rating on the stock. 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 report on Friday, October 25th. HSBC upgraded shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price objective on the stock in a report on Tuesday, November 19th. Hsbc Global Res upgraded shares of QuantumScape to a "hold" rating in a report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.26.

QuantumScape Trading Up 6.4 %

The firm's 50-day moving average price is $5.27 and its 200-day moving average price is $5.70. The company has a market cap of $2.73 billion, a P/E ratio of -5.75 and a beta of 4.50. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the company earned ($0.23) earnings per share. As a group, equities research analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Kevin Hettrich sold 55,647 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the transaction, the chief financial officer now owns 1,022,743 shares in the company, valued at $5,164,852.15. The trade was a 5.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael O. Mccarthy III sold 106,084 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $5.90, for a total value of $625,895.60. Following the transaction, the insider now owns 1,181,884 shares of the company's stock, valued at approximately $6,973,115.60. This represents a 8.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 702,057 shares of company stock worth $3,982,909. 12.03% of the stock is owned by company insiders.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake 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 valued at $34,031,000 after purchasing an additional 87,563 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of QuantumScape by 3.9% in the third 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company's stock worth $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 3rd 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 increased its position 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 valued at $4,579,000 after acquiring an additional 11,897 shares in the last quarter. 29.87% of the stock is currently owned by hedge funds and other 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.

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