QuantumScape (NYSE:QS) Trading 4.8% Higher

QuantumScape Co. (NYSE:QS)’s share price traded up 4.8% during mid-day trading on Tuesday . The company traded as high as $5.69 and last traded at $5.65. 2,031,553 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 9,344,412 shares. The stock had previously closed at $5.39.

Wall Street Analysts Forecast Growth

QS has been the subject of a number of analyst reports. Robert W. Baird raised their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Truist Financial reduced their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.46.

QuantumScape Price Performance

The stock has a market capitalization of $2.79 billion, a PE ratio of -5.89 and a beta of 4.77. The firm’s fifty day moving average price is $6.08 and its two-hundred day moving average price is $6.44. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period last year, the company earned ($0.25) EPS. On average, equities analysts predict that QuantumScape Co. will post -0.87 earnings per share for the current year.

Insider Activity at QuantumScape

In other news, Director Jeffrey B. Straubel sold 69,309 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the completion of the sale, the director now owns 292,644 shares of the company’s stock, valued at approximately $1,966,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the sale, the chief financial officer now owns 554,553 shares of the company’s stock, valued at $3,626,776.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,970 shares of company stock worth $1,250,775. 10.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its holdings in QuantumScape by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock worth $1,638,000 after buying an additional 1,481 shares during the period. Spire Wealth Management boosted its stake in shares of QuantumScape by 39.0% in the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after acquiring an additional 1,500 shares during the period. Xponance Inc. grew its position in shares of QuantumScape by 15.8% during the fourth quarter. Xponance Inc. now owns 12,050 shares of the company’s stock worth $84,000 after purchasing an additional 1,640 shares in the last quarter. CWM LLC raised its stake in QuantumScape by 31.1% during the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock valued at $51,000 after purchasing an additional 1,794 shares during the period. Finally, C M Bidwell & Associates Ltd. lifted its holdings in QuantumScape by 37.3% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,835 shares in the last quarter. 29.87% of the stock is currently owned by 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.