QuantumScape (NYSE:QS) Shares Up 2.6% – What’s Next?

QuantumScape Co. (NYSE:QS) traded up 2.6% during mid-day trading on Friday . The stock traded as high as $5.50 and last traded at $5.40. 3,851,857 shares were traded during mid-day trading, a decline of 80% from the average session volume of 19,581,479 shares. The stock had previously closed at $5.26.

Wall Street Analysts Forecast Growth

QS has been the subject of several recent analyst reports. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research report on Tuesday, November 19th. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Down 1.0 %

The firm has a market capitalization of $2.67 billion, a PE ratio of -5.48 and a beta of 4.46. 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 company has a fifty day simple moving average of $5.25 and a two-hundred day simple moving average of $5.70.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the company posted ($0.23) EPS. Analysts forecast that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Mohit Singh sold 97,305 shares of the business’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 transaction of $607,183.20. Following the completion of the transaction, the insider now owns 1,092,020 shares in the company, valued at $6,814,204.80. The trade was a 8.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Hettrich sold 55,647 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $5.05, for a total transaction of $281,017.35. Following the completion of the sale, the chief financial officer now owns 1,022,743 shares of the company’s stock, valued at approximately $5,164,852.15. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 536,460 shares of company stock valued at $2,903,619 over the last 90 days. Corporate insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently made changes to their positions in QS. Signaturefd LLC grew its stake in QuantumScape by 79.9% during 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 during the last quarter. International Assets Investment Management LLC grew 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 during the last quarter. Atom Investors LP acquired a new position in shares of QuantumScape during the third quarter valued at about $60,000. Centaurus Financial Inc. purchased a new position in shares of QuantumScape in the 2nd quarter valued at approximately $52,000. Finally, Nwam LLC acquired a new stake in QuantumScape in the 3rd quarter worth approximately $64,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.