QuantumScape (NYSE:QS) Trading 8.1% Higher - Here's Why

QuantumScape Co. (NYSE:QS - Get Free Report)'s stock price was up 8.1% on Thursday . The stock traded as high as $5.67 and last traded at $5.61. Approximately 7,741,869 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 9,691,576 shares. The stock had previously closed at $5.19.

Analysts Set New Price Targets

QS has been the subject of several recent analyst reports. Truist Financial restated 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. Hsbc Global Res upgraded QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. Wolfe Research assumed coverage on QuantumScape in a research note on Thursday, September 5th. They set an "underperform" rating on the stock. 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. Finally, 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. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $6.26.

QuantumScape Stock Up 6.7 %

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 stock's fifty day simple moving average is $5.18 and its two-hundred day simple moving average is $5.64. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -5.83 and a beta of 4.50.

QuantumScape (NYSE:QS - Get Free Report) last issued its 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 period in the previous year, the company posted ($0.23) EPS. On average, sell-side analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Activity

In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of the business's stock in a transaction 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 sale, the director now directly owns 2,590,583 shares of the company's stock, valued at $14,325,923.99. The trade was a 6.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the firm's stock in a transaction 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 sale, the chief financial officer now directly owns 1,073,022 shares of the company's stock, valued at approximately $5,890,890.78. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 763,337 shares of company stock valued at $4,156,865 over the last three months. Insiders own 12.03% of the company's stock.

Institutional Trading of QuantumScape

A number of hedge funds have recently made changes to their positions in the stock. Signaturefd LLC lifted its position in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company's stock worth $28,000 after buying an additional 2,148 shares in the last quarter. International Assets Investment Management LLC raised its holdings 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 worth $29,000 after acquiring an additional 4,228 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in QuantumScape during the second quarter valued at $52,000. Atom Investors LP purchased a new position in QuantumScape in the third quarter valued at about $60,000. Finally, CIBC Asset Management Inc acquired a new position in QuantumScape in the 2nd quarter worth about $61,000. 29.87% of the stock is 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.