QuantumScape (NYSE:QS) Shares Up 8.2% - Should You Buy?

QuantumScape Co. (NYSE:QS - Get Free Report) rose 8.2% during trading on Friday . The stock traded as high as $5.15 and last traded at $5.12. Approximately 8,523,557 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 9,358,702 shares. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QS. Wolfe Research began coverage on QuantumScape in a report on Thursday, September 5th. They set an "underperform" rating on the stock. Hsbc Global Res raised QuantumScape to a "hold" rating in a research note on Tuesday, November 19th. 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 on the stock in a research note on Tuesday, November 19th. Finally, Truist Financial reiterated a "hold" rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.26.

QuantumScape Stock Up 6.1 %

The stock has a 50 day moving average price of $5.17 and a 200 day moving average price of $5.64. The company has a market cap of $2.57 billion, a P/E ratio of -5.28 and a beta of 4.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly 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 in the prior year, the business earned ($0.23) EPS. Research analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael O. Mccarthy III sold 27,305 shares of QuantumScape stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $5.07, for a total value of $138,436.35. Following the transaction, the insider now directly owns 1,129,167 shares of the company's stock, valued at $5,724,876.69. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jagdeep Singh sold 192,270 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the completion of the sale, the director now owns 2,590,583 shares of the company's stock, valued at approximately $14,325,923.99. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 666,032 shares of company stock worth $3,549,682. Corporate insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its position 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 in the last quarter. Geode Capital Management LLC lifted 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 buying an additional 218,743 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of QuantumScape by 4.4% during the 3rd 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 grew its holdings in shares of QuantumScape by 8.7% during the 3rd 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, Bank of New York Mellon Corp increased its stake in shares of QuantumScape by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company's stock worth $4,579,000 after acquiring an additional 11,897 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

About QuantumScape

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.