QuantumScape (NYSE:QS) Sees Large Volume Increase – Here’s What Happened

Shares of QuantumScape Co. (NYSE:QS) saw unusually-high trading volume on Wednesday . Approximately 16,277,338 shares changed hands during trading, an increase of 77% from the previous session’s volume of 9,206,415 shares.The stock last traded at $5.67 and had previously closed at $5.31.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QS. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a report on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research assumed coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Trading Up 6.1 %

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -5.28 and a beta of 4.50. The firm has a 50 day moving average price of $5.18 and a two-hundred day moving average price of $5.65.

QuantumScape (NYSE:QS) last released its quarterly earnings results 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 company posted ($0.23) EPS. As a group, equities analysts forecast that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Activity at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the sale, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at approximately $5,890,890.78. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the transaction, the director now directly owns 2,590,583 shares in the company, valued at $14,325,923.99. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 666,032 shares of company stock worth $3,549,682 over the last quarter. Company insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of 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 in the last quarter. International Assets Investment Management LLC raised its holdings 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 acquiring an additional 4,228 shares during the last quarter. CWM LLC boosted its stake in QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares during the last quarter. Centaurus Financial Inc. acquired a new position in QuantumScape during the 2nd quarter valued at about $52,000. Finally, Financial Advocates Investment Management bought a new stake in QuantumScape during the 2nd quarter worth approximately $58,000. 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.