QuantumScape (NYSE:QS) Trading 5.3% Higher - Here's Why

QuantumScape Co. (NYSE:QS - Get Free Report)'s stock price rose 5.3% during trading on Wednesday . The stock traded as high as $5.77 and last traded at $5.53. Approximately 8,148,565 shares traded hands during trading, a decline of 61% from the average daily volume of 20,716,193 shares. The stock had previously closed at $5.25.

Analyst Ratings Changes

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

QuantumScape Stock Performance

The company has a 50-day simple moving average of $5.23 and a two-hundred day simple moving average of $5.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The firm has a market capitalization of $2.71 billion, a P/E ratio of -5.57 and a beta of 4.46.

QuantumScape (NYSE:QS - Get Free Report) last released 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 in the prior year, the company posted ($0.23) earnings per share. As a group, equities analysts forecast that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the completion of the transaction, the director now owns 2,563,767 shares in the company, valued at approximately $13,587,965.10. The trade was a 10.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the stock in a transaction on Friday, December 27th. The stock was 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 in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 536,460 shares of company stock valued at $2,903,619 in the last three months. 12.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently modified their holdings of QS. Signaturefd LLC raised its holdings in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company's stock worth $28,000 after buying an additional 2,148 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company's stock valued at $29,000 after acquiring an additional 4,228 shares in the last quarter. Atom Investors LP purchased a new position in QuantumScape in the 3rd quarter worth approximately $60,000. Centaurus Financial Inc. bought a new position in QuantumScape in the 2nd quarter valued at approximately $52,000. Finally, Nwam LLC purchased a new stake in QuantumScape during the 3rd quarter valued at $64,000. 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.