QuantumScape (NYSE:QS) Stock Price Up 11.8% – Should You Buy?

QuantumScape Co. (NYSE:QS) traded up 11.8% on Monday . The company traded as high as $6.84 and last traded at $6.71. 16,077,159 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 18,948,365 shares. The stock had previously closed at $6.00.

Analyst Ratings Changes

Several research firms have recently weighed in on QS. Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued 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 six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Performance

The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -6.02 and a beta of 4.46. 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 stock’s fifty day moving average is $5.20 and its two-hundred day moving average is $5.68.

QuantumScape (NYSE:QS) last issued its 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 company earned ($0.23) EPS. On average, analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Activity

In other news, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was 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 in the company, valued at $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jagdeep Singh sold 308,097 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the transaction, the director now owns 2,563,767 shares in the company, valued at approximately $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 a total of 536,460 shares of company stock valued at $2,903,619 over the last three months. Insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its position in QuantumScape by 28.2% during the third quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after acquiring an additional 35,579 shares during the period. Virtu Financial LLC bought a new position in shares of QuantumScape during the third quarter worth approximately $235,000. Barclays PLC increased its holdings in shares of QuantumScape by 326.5% during the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after purchasing an additional 79,871 shares during the period. Geode Capital Management LLC boosted its stake in shares of QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after buying an additional 218,743 shares during the period. Finally, M&T Bank Corp boosted its stake in shares of QuantumScape by 139.2% in the third quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after buying an additional 26,820 shares during the period. Institutional investors 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.