QuantumScape (NYSE:QS) Stock Price Up 5.1% – Time to Buy?

QuantumScape Co. (NYSE:QS) shares were up 5.1% during mid-day trading on Tuesday . The stock traded as high as $4.97 and last traded at $4.97. Approximately 3,475,278 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 8,828,151 shares. The stock had previously closed at $4.73.

Analyst Upgrades and Downgrades

QS has been the topic of several research analyst reports. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Truist Financial reissued a “hold” rating and set a $7.00 target price (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 stock. According to MarketBeat.com, QuantumScape has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Performance

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 business has a 50 day moving average of $5.44 and a two-hundred day moving average of $5.75.

QuantumScape (NYSE:QS) last released its quarterly earnings data 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 previous year, the company earned ($0.23) EPS. On average, equities research analysts forecast that QuantumScape Co. will post -0.97 earnings per share for the current year.

Insider Activity

In related news, insider Michael O. Mccarthy III sold 106,084 shares of QuantumScape stock in a transaction on Friday, September 13th. The stock was sold at an average price of $5.90, for a total transaction of $625,895.60. Following the sale, the insider now directly owns 1,181,884 shares in the company, valued at approximately $6,973,115.60. This trade represents a 8.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jurgen Leohold sold 17,435 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.00, for a total value of $104,610.00. Following the completion of the transaction, the director now directly owns 194,904 shares in the company, valued at approximately $1,169,424. This represents a 8.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 606,197 shares of company stock worth $3,498,399 over the last quarter. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds have recently modified their holdings of QS. Vanguard Group Inc. increased its holdings in QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after acquiring an additional 656,646 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of QuantumScape during the second quarter worth $1,950,000. American Century Companies Inc. grew its position in shares of QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in QuantumScape during the 1st quarter worth about $1,002,000. Institutional investors 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.