QuantumScape (NYSE:QS) Shares Up 1% - Here's What Happened

QuantumScape Co. (NYSE:QS - Get Free Report) shares shot up 1% during mid-day trading on Friday . The stock traded as high as $5.11 and last traded at $5.09. 1,306,956 shares were traded during trading, a decline of 85% from the average session volume of 8,825,269 shares. The stock had previously closed at $5.04.

Analyst Ratings Changes

A number of research firms have issued reports on QS. Truist Financial reissued a "hold" rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Hsbc Global Res raised shares of QuantumScape to a "hold" rating in a research report on Tuesday. Wolfe Research began coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an "underperform" rating for the company. HSBC raised shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price target for the company in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $6.26.

QuantumScape Stock Performance

The company has a market cap of $2.66 billion, a price-to-earnings ratio of -5.36 and a beta of 4.60. 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 stock's fifty day simple moving average is $5.43 and its 200 day simple moving average is $5.74.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the firm earned ($0.23) EPS. As a group, analysts anticipate that QuantumScape Co. will post -0.97 earnings per share for the current year.

Insider Buying and Selling

In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the completion of the sale, the director now directly owns 2,590,583 shares of the company's stock, valued at $15,517,592.17. The trade was a 6.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael O. Mccarthy III sold 106,084 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $5.90, for a total value of $625,895.60. Following the sale, the insider now directly owns 1,181,884 shares in the company, valued at $6,973,115.60. This trade represents a 8.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 606,197 shares of company stock valued at $3,498,399. Company insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company's stock valued at $191,750,000 after acquiring an additional 656,646 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of QuantumScape in the second quarter valued at about $1,950,000. American Century Companies Inc. boosted its stake in shares of QuantumScape by 880.6% during the second quarter. American Century Companies Inc. now owns 352,286 shares of the company's stock worth $1,733,000 after buying an additional 316,361 shares during the period. Geode Capital Management LLC grew its holdings in shares of QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company's stock worth $33,671,000 after buying an additional 218,743 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in QuantumScape in the 1st quarter valued at about $1,002,000. Institutional investors and hedge funds own 29.87% of the company's stock.

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.

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