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

QuantumScape Co. (NYSE:QS) 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 analysts have issued reports on QS shares. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price 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 reissued a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. 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 has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Trading Up 10.7 %

The company has a 50 day simple moving average of $5.16 and a 200 day simple moving average of $5.66. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $3.40 billion, a PE ratio of -6.99 and a beta of 4.46.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the previous year, the firm earned ($0.23) earnings per share. Analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of the stock in a transaction 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 transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This represents a 8.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jagdeep Singh sold 308,097 shares of the stock in a transaction 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 directly owns 2,563,767 shares in the company, valued at approximately $13,587,965.10. This represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 571,067 shares of company stock worth $3,093,612 in the last quarter. Company insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Signaturefd LLC raised its position in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after buying an additional 2,148 shares during the period. International Assets Investment Management LLC raised its position in shares of QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares during the period. Centaurus Financial Inc. purchased a new position in shares of QuantumScape in the 2nd quarter worth $52,000. Atom Investors LP purchased a new position in shares of QuantumScape in the 3rd quarter worth $60,000. Finally, CIBC Asset Management Inc purchased a new position in shares of QuantumScape in the 2nd quarter worth $61,000. Hedge funds and other 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.