QuantumScape (NYSE:QS) Sees Large Volume Increase - What's Next?

QuantumScape Co. (NYSE:QS - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 4,444,048 shares traded hands during trading, a decline of 53% from the previous session's volume of 9,411,777 shares.The stock last traded at $5.63 and had previously closed at $5.37.

Analyst Upgrades and Downgrades

A number of research firms recently commented on QS. Wolfe Research assumed coverage on QuantumScape in a research report on Thursday, September 5th. They set an "underperform" rating on the stock. Truist Financial reaffirmed a "hold" rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. HSBC raised 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 research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.26.

QuantumScape Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a market cap of $3.15 billion, a price-to-earnings ratio of -6.46 and a beta of 4.50. The firm's 50-day moving average price is $5.17 and its 200 day moving average price is $5.64.

QuantumScape (NYSE:QS - Get Free Report) last released its 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 business earned ($0.23) EPS. On average, sell-side analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jagdeep Singh sold 5,531 shares of the business's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the completion of the transaction, the director now owns 2,590,583 shares of the company's stock, valued at $12,978,820.83. The trade was a 0.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 29,667 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $5.10, for a total value of $151,301.70. Following the sale, the chief financial officer now directly owns 1,024,325 shares in the company, valued at $5,224,057.50. The trade was a 2.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 666,032 shares of company stock worth $3,549,682. Insiders own 12.03% of the company's stock.

Institutional Trading of QuantumScape

Hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new stake in shares of QuantumScape during the second quarter worth $1,950,000. American Century Companies Inc. raised its stake in shares of QuantumScape by 880.6% in the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company's stock valued at $1,733,000 after purchasing an additional 316,361 shares during the period. Geode Capital Management LLC lifted its holdings 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 valued at $33,671,000 after purchasing an additional 218,743 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of QuantumScape during the third quarter worth about $828,000. Finally, Nisa Investment Advisors LLC raised its position 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 during the last quarter. 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.