QuantumScape (NYSE:QS) Trading Up 4.9% – Time to Buy?

QuantumScape Co. (NYSE:QS)’s share price was up 4.9% during trading on Friday . The stock traded as high as $5.87 and last traded at $5.81. Approximately 7,313,977 shares changed hands during trading, a decline of 42% from the average daily volume of 12,596,814 shares. The stock had previously closed at $5.54.

Analysts Set New Price Targets

A number of research firms recently commented on QS. Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report 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 note on Tuesday, September 10th. HSBC raised 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. Finally, Truist Financial reissued a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Performance

The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of -6.29 and a beta of 4.50. 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’s 50-day moving average price is $5.17 and its two-hundred day moving average price is $5.64.

QuantumScape (NYSE:QS) last announced its 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 period in the prior year, the business posted ($0.23) EPS. Sell-side analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Activity

In related news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the transaction, the director now owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was 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 in the company, valued at $14,325,923.99. This trade represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 763,337 shares of company stock valued at $4,156,865 over the last 90 days. 12.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in shares of QuantumScape by 79.9% during the third 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 lifted its holdings in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares during the period. Centaurus Financial Inc. acquired a new position in QuantumScape during the 2nd quarter worth approximately $52,000. Atom Investors LP bought a new position in shares of QuantumScape in the 3rd quarter worth $60,000. Finally, CIBC Asset Management Inc acquired a new position in shares of QuantumScape during the second quarter valued at about $61,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.