QuantumScape (NYSE:QS) Shares Up 1.8% – Still a Buy?

QuantumScape Co. (NYSE:QS)’s stock price rose 1.8% during mid-day trading on Friday . The company traded as high as $5.32 and last traded at $5.27. Approximately 3,628,347 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 17,612,559 shares. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on QS. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Stock Performance

The stock has a market capitalization of $2.65 billion, a P/E ratio of -5.43 and a beta of 4.46. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $5.28 and a two-hundred day moving average price of $5.70.

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 period last year, the company earned ($0.23) EPS. Equities analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Activity

In related news, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the transaction, the insider now directly owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the sale, the director now owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. The trade was a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 536,460 shares of company stock worth $2,903,619 in the last three months. Corporate insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of large investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the last quarter. Heck Capital Advisors LLC bought a new position in QuantumScape during the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC raised its stake 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. Blue Trust Inc. lifted its holdings in shares of QuantumScape by 208.8% in the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after acquiring an additional 4,556 shares during the last quarter. Finally, Atom Investors LP purchased a new stake in shares of QuantumScape in the 3rd quarter valued at $60,000. Hedge funds and other institutional investors 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.