QuantumScape (NYSE:QS) Stock Price Up 4.9% - Here's Why

QuantumScape Co. (NYSE:QS - Get Free Report) shares rose 4.9% on Friday . The stock traded as high as $5.87 and last traded at $5.81. Approximately 7,313,977 shares were traded during trading, a decline of 42% from the average daily volume of 12,596,814 shares. The stock had previously closed at $5.54.

Analyst Ratings Changes

Several research firms have commented on QS. HSBC raised 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, November 19th. Truist Financial restated a "hold" rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Wolfe Research assumed coverage on QuantumScape in a research report on Thursday, September 5th. They issued an "underperform" rating on the stock. 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 MarketBeat.com, QuantumScape has an average rating of "Hold" and a consensus price target of $6.26.

QuantumScape Trading Up 8.3 %

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 moving average is $5.17 and its two-hundred day moving average is $5.64. The company has a market capitalization of $3.07 billion, a PE ratio of -6.32 and a beta of 4.50.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the company posted ($0.23) EPS. As a group, sell-side analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $5,890,890.78. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the sale, the director now directly owns 2,590,583 shares in the company, valued at approximately $14,325,923.99. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 763,337 shares of company stock worth $4,156,865 over the last three months. Corporate insiders own 12.03% of the company's stock.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its holdings in shares of QuantumScape by 6,650.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company's stock worth $776,000 after buying an additional 133,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of QuantumScape by 3.9% during 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 period. Canada Pension Plan Investment Board acquired a new stake in shares of QuantumScape during the 2nd quarter worth about $1,950,000. Weiss Asset Management LP purchased a new stake in QuantumScape in the 3rd quarter valued at about $828,000. Finally, Sanctuary Advisors LLC purchased a new stake in QuantumScape in the 2nd quarter valued at about $680,000. 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.