QuantumScape (NYSE:QS) Trading 0.3% Higher – Still a Buy?

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

Analyst Ratings Changes

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

QuantumScape Price Performance

The firm has a 50 day moving average of $5.25 and a 200-day moving average of $5.71. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.65 billion, a P/E ratio of -5.43 and a beta of 4.46.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the prior year, the firm posted ($0.23) earnings per share. On average, equities research analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Buying and Selling at QuantumScape

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its position in QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of QuantumScape by 475.1% in 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. Atom Investors LP bought a new position in shares of QuantumScape during the 3rd quarter worth approximately $60,000. Centaurus Financial Inc. purchased a new stake in QuantumScape during the second quarter valued at approximately $52,000. Finally, Nwam LLC acquired a new stake in QuantumScape in the third quarter valued at approximately $64,000. Hedge funds and other institutional investors 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.