QuantumScape (NYSE:QS) Stock Price Up 0.9% – Here’s What Happened

Shares of QuantumScape Co. (NYSE:QS) traded up 0.9% during mid-day trading on Thursday . The company traded as high as $5.44 and last traded at $5.36. 3,301,066 shares changed hands during trading, a decline of 84% from the average session volume of 20,179,680 shares. The stock had previously closed at $5.31.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Finally, Truist Financial reiterated a “hold” rating and set a $7.00 price target (up 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 assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Price 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 stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -5.48 and a beta of 4.46. The company has a 50-day moving average of $5.25 and a 200-day moving average of $5.70.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the previous year, the business posted ($0.23) earnings per share. As a group, equities research analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at $12,978,820.83. The trade was a 0.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the sale, the insider now directly owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 536,460 shares of company stock valued at $2,903,619. Company insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in shares of QuantumScape by 127.0% during the 4th quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock valued at $1,062,000 after buying an additional 114,504 shares during the period. Guardian Investment Management grew its stake in shares of QuantumScape by 158.6% during the 4th quarter. Guardian Investment Management now owns 12,490 shares of the company’s stock valued at $65,000 after buying an additional 7,660 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of QuantumScape by 13.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 112,168 shares of the company’s stock valued at $582,000 after buying an additional 13,177 shares during the period. Sanctuary Advisors LLC grew its stake in shares of QuantumScape by 28.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock valued at $930,000 after buying an additional 35,579 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of QuantumScape during the 3rd quarter valued at $235,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.