QuantumScape (NYSE:QS) Trading Up 4.2% – Time to Buy?

QuantumScape Corporation (NYSE:QS) shares traded up 4.2% on Friday . The company traded as high as $16.62 and last traded at $16.5720. 32,879,367 shares traded hands during trading, an increase of 12% from the average session volume of 29,251,555 shares. The stock had previously closed at $15.90.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research note on Thursday, October 30th. Robert W. Baird boosted their price target on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. TD Cowen increased their price objective on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on QuantumScape and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $7.66.

QuantumScape Stock Performance

The company has a market cap of $9.96 billion, a price-to-earnings ratio of -20.46 and a beta of 4.83. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average price is $13.28 and its 200 day moving average price is $8.93.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of ($36.67) million for the quarter. During the same period last year, the business earned ($0.23) earnings per share. On average, analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Activity

In other news, CTO Timothy Holme sold 44,923 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $15.52, for a total value of $697,204.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brad W. Buss sold 300,000 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $17.98, for a total transaction of $5,394,000.00. Following the completion of the sale, the director owned 122,476 shares in the company, valued at approximately $2,202,118.48. This trade represents a 71.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,844,134 shares of company stock worth $41,397,924 over the last three months. 5.48% of the stock is currently owned by corporate insiders.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after buying an additional 5,841 shares during the last quarter. Tsfg LLC raised its position in shares of QuantumScape by 233.3% during the 3rd quarter. Tsfg LLC now owns 2,000 shares of the company’s stock valued at $25,000 after acquiring an additional 1,400 shares in the last quarter. REAP Financial Group LLC lifted its stake in QuantumScape by 300.0% during the third quarter. REAP Financial Group LLC now owns 2,000 shares of the company’s stock worth $25,000 after purchasing an additional 1,500 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in QuantumScape by 685.5% in the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock worth $25,000 after purchasing an additional 3,311 shares during the period. Finally, Federated Hermes Inc. increased its stake in QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after purchasing an additional 5,438 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.