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

QuantumScape Co. (NYSE:QS)’s share price rose 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

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

QuantumScape Stock Up 7.3 %

The business has a 50-day moving average of $5.26 and a 200 day moving average of $5.45. The company has a market capitalization of $2.66 billion, a PE ratio of -5.47 and a beta of 4.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

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

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the transaction, the director now owns 241,195 shares of the company’s stock, valued at $1,215,622.80. This represents a 5.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jagdeep Singh sold 308,097 shares of the company’s stock in a transaction on 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 in the company, valued at $13,587,965.10. This trade represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 567,878 shares of company stock worth $3,062,871 over the last 90 days. Company insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in QuantumScape in the fourth quarter valued at about $26,000. International Assets Investment Management LLC increased 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 purchasing an additional 4,228 shares during the period. Blue Trust Inc. increased its holdings in shares of QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after purchasing an additional 4,556 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of QuantumScape in the fourth quarter valued at about $53,000. 29.87% of the stock is currently 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.