QuantumScape (NYSE:QS) Trading 2.6% Higher - Still a Buy?

QuantumScape Co. (NYSE:QS - Get Free Report)'s share price shot up 2.6% on Friday . The company traded as high as $5.50 and last traded at $5.40. 3,851,857 shares were traded during mid-day trading, a decline of 80% from the average session volume of 19,581,479 shares. The stock had previously closed at $5.26.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on QS shares. Hsbc Global Res raised shares of QuantumScape to a "hold" rating in a report on Tuesday, November 19th. Truist Financial reiterated a "hold" rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, HSBC upgraded QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, QuantumScape presently has a consensus rating of "Hold" and an average price target of $6.26.

QuantumScape Stock Performance

The firm has a market capitalization of $2.67 billion, a PE ratio of -5.48 and a beta of 4.46. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $5.25 and a 200 day moving average of $5.70.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the firm earned ($0.23) EPS. Equities research analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of the business's stock in a transaction on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now directly owns 1,092,020 shares of the company's stock, valued at $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jagdeep Singh sold 308,097 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the sale, the director now owns 2,563,767 shares of the company's stock, valued at approximately $13,587,965.10. The trade was a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 536,460 shares of company stock valued at $2,903,619. Insiders own 12.03% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QS. State Street Corp grew its stake in shares of QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company's stock worth $34,031,000 after purchasing an additional 87,563 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 buying an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of QuantumScape by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company's stock valued at $12,806,000 after buying an additional 93,826 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of QuantumScape by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company's stock valued at $6,785,000 after acquiring an additional 94,103 shares in the last quarter. Finally, Arthedge Capital Management LLC lifted its stake in QuantumScape by 14.6% in the third quarter. Arthedge Capital Management LLC now owns 723,000 shares of the company's stock worth $4,157,000 after acquiring an additional 92,000 shares during the period. 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.