QuantumScape (NYSE:QS) Trading Up 0.2% - Here's Why

QuantumScape Co. (NYSE:QS - Get Free Report)'s share price rose 0.2% during mid-day trading on Tuesday . The company traded as high as $5.61 and last traded at $5.50. Approximately 4,893,631 shares traded hands during trading, a decline of 49% from the average daily volume of 9,636,434 shares. The stock had previously closed at $5.49.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial reiterated a "hold" rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Wolfe Research initiated coverage on QuantumScape in a research report on Thursday, September 5th. They issued an "underperform" rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. HSBC raised QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price on the stock in a research report on Tuesday, November 19th. Finally, Hsbc Global Res upgraded QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $6.26.

QuantumScape Trading Down 5.5 %

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 stock has a fifty day moving average of $5.18 and a 200-day moving average of $5.64. The company has a market cap of $2.66 billion, a PE ratio of -5.46 and a beta of 4.50.

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 posted ($0.23) EPS. Sell-side analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of the firm's stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the transaction, the insider now owns 1,092,020 shares of the company's stock, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of the business's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the sale, the director now owns 2,590,583 shares of the company's stock, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 763,337 shares of company stock valued at $4,156,865. 12.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in shares of QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company's stock valued at $28,000 after buying an additional 2,148 shares during the last quarter. International Assets Investment Management LLC lifted its position in QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company's stock valued at $29,000 after acquiring an additional 4,228 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in QuantumScape in the second quarter valued at approximately $52,000. Atom Investors LP purchased a new position in QuantumScape in the third quarter worth $60,000. Finally, CIBC Asset Management Inc acquired a new position in shares of QuantumScape during the second quarter worth $61,000. Institutional investors 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.