QuantumScape (NYSE:QS) Trading Up 5.8% – Still a Buy?

QuantumScape Co. (NYSE:QS)’s share price traded up 5.8% during trading on Monday . The stock traded as high as $5.52 and last traded at $5.46. 7,066,804 shares changed hands during trading, a decline of 20% from the average session volume of 8,858,356 shares. The stock had previously closed at $5.16.

Wall Street Analysts Forecast Growth

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

QuantumScape Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The company’s 50 day moving average is $5.37 and its 200 day moving average is $5.74. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -5.45 and a beta of 4.60.

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

Insiders Place Their Bets

In other news, Director Jurgen Leohold sold 17,435 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.00, for a total value of $104,610.00. Following the sale, the director now directly owns 194,904 shares in the company, valued at $1,169,424. This represents a 8.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Hettrich sold 55,647 shares of QuantumScape stock in a transaction dated 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 702,057 shares of company stock worth $3,982,909. 12.03% of the stock is owned by corporate insiders.

Institutional Trading of QuantumScape

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC grew its holdings in QuantumScape by 79.9% in the 3rd 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 period. International Assets Investment Management LLC grew its holdings in 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. CWM LLC increased its position in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after purchasing an additional 2,556 shares during the last quarter. Mather Group LLC. purchased a new position in QuantumScape during the second quarter worth approximately $36,000. Finally, Alaska Wealth Advisors acquired a new position in shares of QuantumScape in the 2nd quarter valued at $49,000. 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.