QuantumScape (NYSE:QS) Shares Up 5% – Here’s Why

QuantumScape Co. (NYSE:QS) shares rose 5% during mid-day trading on Tuesday . The company traded as high as $5.35 and last traded at $5.22. Approximately 9,371,680 shares changed hands during trading, an increase of 3% from the average daily volume of 9,135,107 shares. The stock had previously closed at $4.97.

Analyst Ratings Changes

QS has been the topic of several analyst reports. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research began coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Truist Financial reissued a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, QuantumScape has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Trading Down 6.9 %

The company has a 50 day moving average of $5.19 and a 200 day moving average of $5.66. 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 has a market capitalization of $2.42 billion, a price-to-earnings ratio of -4.98 and a beta of 4.50.

QuantumScape (NYSE:QS) last issued its 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 period last year, the business posted ($0.23) earnings per share. On average, research analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Activity at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now directly owns 241,195 shares in the company, valued at $1,215,622.80. This represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 27,305 shares of QuantumScape stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.07, for a total value of $138,436.35. Following the completion of the sale, the insider now 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 position. The disclosure for this sale can be found here. Insiders sold a total of 666,032 shares of company stock valued at $3,549,682 over the last ninety days. Insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in 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 during the period. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 218,743 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position 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 purchasing an additional 93,826 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of QuantumScape by 8.7% in 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 worth $6,785,000 after buying an additional 94,103 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 11,897 shares during the period. Institutional investors and hedge funds 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.