QuantumScape (NYSE:QS) Shares Up 0.3% – What’s Next?

QuantumScape Co. (NYSE:QS)’s share price was up 0.3% during trading on Tuesday . The stock traded as high as $5.33 and last traded at $5.24. Approximately 5,767,143 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 19,124,447 shares. The stock had previously closed at $5.22.

Analysts Set New Price Targets

QS has been the topic of several research analyst reports. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reissued 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 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 investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, QuantumScape presently has an average rating of “Hold” and an average target price of $6.26.

QuantumScape Price Performance

The firm has a market cap of $2.65 billion, a PE ratio of -5.43 and a beta of 4.46. The stock has a 50 day simple moving average of $5.25 and a two-hundred day simple moving average of $5.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

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

Insider Buying and Selling at QuantumScape

In related news, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction 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 sale, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael O. Mccarthy III sold 27,305 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.07, for a total transaction of $138,436.35. Following the transaction, the insider now owns 1,129,167 shares of the company’s stock, valued at $5,724,876.69. This represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 536,460 shares of company stock valued at $2,903,619. Corporate insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of 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 valued at $28,000 after acquiring an additional 2,148 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in shares of QuantumScape during the 2nd quarter valued at approximately $52,000. Atom Investors LP acquired a new position in QuantumScape in the third quarter valued at approximately $60,000. Finally, Nwam LLC purchased a new position in QuantumScape in the third quarter worth approximately $64,000. 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.