QuantumScape (NYSE:QS) Shares Up 3.2% - What's Next?

QuantumScape Co. (NYSE:QS - Get Free Report) shares rose 3.2% during mid-day trading on Wednesday . The company traded as high as $5.17 and last traded at $5.11. Approximately 3,605,205 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 8,833,886 shares. The stock had previously closed at $4.95.

Wall Street Analyst Weigh In

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

QuantumScape Stock Up 0.4 %

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 stock's 50-day simple moving average is $5.46 and its 200 day simple moving average is $5.75. The firm has a market cap of $2.55 billion, a P/E ratio of -5.38 and a beta of 4.60.

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

Insider Activity at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 58,000 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total transaction of $335,240.00. Following the completion of the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $6,202,067.16. The trade was a 5.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 106,084 shares of QuantumScape stock in a transaction on Friday, September 13th. The shares were sold at an average price of $5.90, for a total value of $625,895.60. Following the transaction, the insider now owns 1,181,884 shares in the company, valued at $6,973,115.60. This trade represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 606,197 shares of company stock worth $3,498,399 in the last ninety days. 12.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently made changes to their positions in QS. Nisa Investment Advisors LLC grew its holdings in QuantumScape by 6,650.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company's stock valued at $776,000 after purchasing an additional 133,000 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of QuantumScape during the second quarter worth about $1,950,000. Sanctuary Advisors LLC purchased a new position in shares of QuantumScape in the second quarter worth $680,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of QuantumScape in the second quarter worth about $644,000. Finally, American Century Companies Inc. raised its holdings 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 purchasing an additional 316,361 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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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