QuantumScape (NYSE:QS) Stock Price Up 8.4% – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s share price was up 8.4% during trading on Thursday . The stock traded as high as $5.36 and last traded at $5.24. Approximately 12,741,313 shares were traded during trading, a decline of 17% from the average daily volume of 15,329,132 shares. The stock had previously closed at $4.83.

Analyst Upgrades and Downgrades

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

QuantumScape Stock Up 7.3 %

The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -5.47 and a beta of 4.45. 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 stock has a fifty day moving average of $5.26 and a two-hundred day moving average of $5.45.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape 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 completion of the transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.04, for a total transaction of $65,056.32. Following the sale, the director now directly owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 567,878 shares of company stock valued at $3,062,871. 12.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

Several institutional investors have recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in QuantumScape in the fourth quarter worth about $26,000. Signaturefd LLC lifted its stake in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of 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 acquiring an additional 4,228 shares in the last quarter. Blue Trust Inc. increased its stake in shares of QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after acquiring an additional 4,556 shares during the period. Finally, Atlas Legacy Advisors LLC bought a new stake in QuantumScape during the fourth quarter worth approximately $53,000. 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.