QuantumScape (NYSE:QS) Shares Gap Up – Time to Buy?

QuantumScape Co. (NYSE:QS) shares gapped up before the market opened on Monday . The stock had previously closed at $6.00, but opened at $6.34. QuantumScape shares last traded at $6.71, with a volume of 7,276,404 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial reaffirmed a “hold” rating and issued a $7.00 target price (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 report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Down 9.1 %

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 company has a market capitalization of $2.93 billion, a PE ratio of -6.02 and a beta of 4.46. The firm’s 50-day simple moving average is $5.20 and its 200 day simple moving average is $5.68.

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

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 55,647 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.05, for a total value of $281,017.35. Following the sale, the chief financial officer now owns 1,022,743 shares of the company’s stock, valued at approximately $5,164,852.15. This represents a 5.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 27,305 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 1,129,167 shares of the company’s stock, valued at $5,724,876.69. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 536,460 shares of company stock valued at $2,903,619 in the last ninety days. Corporate insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

A number of large investors have recently made changes to their positions in QS. Sanctuary Advisors LLC lifted its holdings in QuantumScape by 28.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock valued at $930,000 after purchasing an additional 35,579 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of QuantumScape during the third quarter valued at approximately $235,000. Barclays PLC boosted its position in QuantumScape by 326.5% during the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after acquiring an additional 79,871 shares during the last quarter. Geode Capital Management LLC grew its stake in QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after acquiring an additional 218,743 shares during the period. Finally, M&T Bank Corp raised its holdings in QuantumScape by 139.2% in the 3rd quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after acquiring an additional 26,820 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.