QuantumScape (NYSE:QS) Stock Price Up 3.1% - Here's What Happened

QuantumScape Co. (NYSE:QS - Get Free Report) was up 3.1% during mid-day trading on Tuesday . The company traded as high as $5.32 and last traded at $5.31. Approximately 3,272,386 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 9,407,486 shares. The stock had previously closed at $5.15.

Analyst Upgrades and Downgrades

QS has been the subject of a number of research reports. HSBC raised 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. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. Truist Financial reaffirmed a "hold" rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Wolfe Research initiated coverage on QuantumScape in a report on Thursday, September 5th. They issued an "underperform" rating for the company. Finally, Hsbc Global Res raised QuantumScape to a "hold" rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.26.

QuantumScape Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -5.65 and a beta of 4.50. The firm has a fifty day simple moving average of $5.16 and a 200 day simple moving average of $5.64.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results 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 business earned ($0.23) EPS. On average, analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 308,097 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 2,563,767 shares in the company, valued at approximately $13,587,965.10. The trade was a 10.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 29,667 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $5.10, for a total value of $151,301.70. Following the transaction, the chief financial officer now directly owns 1,024,325 shares of the company's stock, valued at $5,224,057.50. The trade was a 2.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 666,032 shares of company stock valued at $3,549,682 over the last 90 days. Corporate insiders own 12.03% of the company's stock.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds have recently modified their holdings of the business. State Street Corp boosted its stake in QuantumScape by 1.5% during the third quarter. State Street Corp now owns 5,918,496 shares of the company's stock worth $34,031,000 after buying an additional 87,563 shares during the last quarter. Geode Capital Management LLC boosted its position 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 valued at $33,671,000 after acquiring an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of QuantumScape by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company's stock valued at $12,806,000 after purchasing an additional 93,826 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in QuantumScape by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company's stock worth $6,785,000 after purchasing an additional 94,103 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in QuantumScape by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company's stock worth $4,579,000 after purchasing an additional 11,897 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.