QuantumScape (NYSE:QS) Stock Price Up 0.4% - Here's Why

QuantumScape Co. (NYSE:QS - Get Free Report) shares shot up 0.4% during trading on Thursday . The stock traded as high as $5.31 and last traded at $5.18. 6,556,446 shares traded hands during trading, a decline of 26% from the average session volume of 8,891,154 shares. The stock had previously closed at $5.16.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial reaffirmed a "hold" rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. HSBC raised shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price on the stock in a report on Tuesday, November 19th. Wolfe Research initiated coverage on shares of QuantumScape in a research note 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 note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.26.

QuantumScape Stock Performance

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 cap of $2.65 billion, a P/E ratio of -5.45 and a beta of 4.60. The company's 50 day moving average is $5.37 and its 200 day moving average is $5.74.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates 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 predict that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Jurgen Leohold sold 17,435 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.00, for a total transaction of $104,610.00. Following the sale, the director now directly owns 194,904 shares of the company's stock, valued at $1,169,424. The trade was a 8.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jagdeep Singh sold 5,531 shares of the firm's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares of the company's stock, valued at $12,978,820.83. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 702,057 shares of company stock worth $3,982,909. 12.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company's stock worth $191,750,000 after acquiring an additional 656,646 shares during the period. Janus Henderson Group PLC lifted its position in shares of QuantumScape by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company's stock worth $11,482,000 after purchasing an additional 25,347 shares during the period. California State Teachers Retirement System boosted its stake in shares of QuantumScape by 2.3% in the 1st quarter. California State Teachers Retirement System now owns 344,306 shares of the company's stock valued at $2,166,000 after purchasing an additional 7,585 shares during the last quarter. Tidal Investments LLC increased its position in shares of QuantumScape by 202.0% during the first quarter. Tidal Investments LLC now owns 137,755 shares of the company's stock worth $866,000 after buying an additional 92,142 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in QuantumScape during the first quarter worth $1,002,000. 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.