QuantumScape (NYSE:QS) Stock Price Up 11.8% - Still a Buy?

QuantumScape Co. (NYSE:QS - Get Free Report)'s share price rose 11.8% during trading on Monday . The company traded as high as $6.84 and last traded at $6.71. Approximately 16,077,159 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 18,948,365 shares. The stock had previously closed at $6.00.

Analyst Ratings Changes

QS has been the topic of a number of research analyst reports. Truist Financial restated a "hold" rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res upgraded shares of QuantumScape to a "hold" rating in a report on Tuesday, November 19th. 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. 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 investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $6.26.

QuantumScape Stock Performance

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 business's 50 day moving average is $5.16 and its two-hundred day moving average is $5.66. The company has a market cap of $3.38 billion, a PE ratio of -6.94 and a beta of 4.46.

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 the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the firm earned ($0.23) EPS. On average, equities research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael O. Mccarthy III sold 27,305 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.07, for a total transaction of $138,436.35. Following the completion of the transaction, the insider now owns 1,129,167 shares of the company's stock, valued at approximately $5,724,876.69. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 571,067 shares of company stock valued at $3,093,612. 12.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QS. Canada Pension Plan Investment Board acquired a new position in QuantumScape during the 2nd quarter valued at about $1,950,000. American Century Companies Inc. grew its position in QuantumScape by 880.6% during the second 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 in the last quarter. Geode Capital Management LLC increased its position in QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company's stock worth $33,671,000 after purchasing an additional 218,743 shares during the last quarter. Weiss Asset Management LP acquired a new position in QuantumScape during the third quarter worth $828,000. Finally, Nisa Investment Advisors LLC grew 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 during the last quarter. Hedge funds and other institutional investors 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.