QuantumScape (NYSE:QS) Shares Up 8.2% – Time to Buy?

QuantumScape Co. (NYSE:QS) shares were up 8.2% during mid-day trading on Friday . The stock traded as high as $5.15 and last traded at $5.12. Approximately 8,523,557 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 9,358,702 shares. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

QS has been the subject of several recent analyst reports. Truist Financial restated 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. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Wolfe Research began coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.26.

QuantumScape Trading Up 9.5 %

The stock has a market cap of $2.65 billion, a PE ratio of -5.45 and a beta of 4.50. 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 $5.18 and a 200 day moving average of $5.65.

QuantumScape (NYSE:QS) last posted 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 last year, the business earned ($0.23) EPS. Equities research analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other news, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.30, for a total value of $1,632,914.10. Following the completion of the transaction, the director now directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 29,667 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $5.10, for a total value of $151,301.70. Following the transaction, the chief financial officer now directly owns 1,024,325 shares in the company, valued at $5,224,057.50. This trade represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 666,032 shares of company stock worth $3,549,682 in the last ninety days. Insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its holdings in shares of QuantumScape by 6,650.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after acquiring an additional 133,000 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in QuantumScape in the second quarter valued at about $1,950,000. Weiss Asset Management LP acquired a new position in QuantumScape in the 3rd quarter worth about $828,000. Sanctuary Advisors LLC purchased a new stake in shares of QuantumScape during the 2nd quarter worth about $680,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of QuantumScape during the 2nd quarter valued at about $644,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.