QuantumScape (NYSE:QS) Shares Up 2.3% – Time to Buy?

QuantumScape Co. (NYSE:QS) shares shot up 2.3% during trading on Wednesday . The stock traded as high as $5.17 and last traded at $4.95. 6,847,514 shares changed hands during trading, a decline of 22% from the average session volume of 8,802,797 shares. The stock had previously closed at $4.84.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial restated a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Wolfe Research began coverage on QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, 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. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, QuantumScape presently has an average rating of “Hold” and a consensus price target of $6.14.

QuantumScape Price Performance

The firm’s 50-day moving average is $5.52 and its 200-day moving average is $5.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

QuantumScape (NYSE:QS) last posted 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 quarter in the prior year, the company posted ($0.23) earnings per share. On average, sell-side analysts expect that QuantumScape Co. will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total transaction of $76,931.68. Following the completion of the transaction, the director now owns 254,103 shares in the company, valued at approximately $1,514,453.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total transaction of $76,931.68. Following the completion of the transaction, the director now owns 254,103 shares in the company, valued at approximately $1,514,453.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 711,321 shares of company stock valued at $4,138,097. Corporate insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QS. Signaturefd LLC lifted its position in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC increased its stake in QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after purchasing an additional 4,228 shares in the last quarter. CWM LLC raised its holdings in QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the last quarter. Mather Group LLC. bought a new position in shares of QuantumScape in the second quarter worth approximately $36,000. Finally, Alaska Wealth Advisors purchased a new stake in shares of QuantumScape during the second quarter valued at approximately $49,000. 29.87% of the stock is owned by 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.