QuantumScape (NYSE:QS) Trading Up 2.3% – Here’s What Happened

QuantumScape Co. (NYSE:QS) shares traded up 2.3% during mid-day trading on Thursday . The stock traded as high as $5.30 and last traded at $5.22. 3,370,757 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 16,120,904 shares. The stock had previously closed at $5.10.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QS. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Hsbc Global Res raised QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.26.

QuantumScape Stock Performance

The business’s fifty day simple moving average is $5.29 and its 200-day simple moving average is $5.66. The firm has a market cap of $2.67 billion, a P/E ratio of -5.48 and a beta of 4.46. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.04, for a total transaction of $65,056.32. Following the completion of the transaction, the director now directly owns 241,195 shares of the company’s stock, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 36,949 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the sale, the chief financial officer now directly owns 1,024,325 shares in the company, valued at approximately $5,183,084.50. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 573,409 shares of company stock valued at $3,090,581 over the last ninety days. 12.03% of the stock is owned by insiders.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in QuantumScape in the 4th quarter valued at approximately $57,000. Van ECK Associates Corp increased its holdings in shares of QuantumScape by 9.1% in the 4th quarter. Van ECK Associates Corp now owns 132,885 shares of the company’s stock worth $690,000 after purchasing an additional 11,050 shares in the last quarter. Essex Financial Services Inc. purchased a new position in shares of QuantumScape in the fourth quarter worth $54,000. Armor Investment Advisors LLC lifted its holdings in shares of QuantumScape by 4.8% during the fourth quarter. Armor Investment Advisors LLC now owns 117,201 shares of the company’s stock valued at $608,000 after purchasing an additional 5,317 shares in the last quarter. Finally, Powell Investment Advisors LLC purchased a new stake in shares of QuantumScape during the fourth quarter valued at $119,000. 29.87% of the stock is currently owned by 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.