QuantumScape Co. (NYSE:QS – Get Rating) rose 7% on Friday . The stock traded as high as $7.69 and last traded at $7.67. Approximately 133,085 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 7,334,586 shares. The stock had previously closed at $7.17.
Analyst Ratings Changes
QS has been the subject of several analyst reports. Morgan Stanley cut QuantumScape from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $12.00 to $4.00 in a report on Wednesday, November 9th. The Goldman Sachs Group lowered QuantumScape from a “neutral” rating to a “sell” rating and decreased their price target for the company from $8.00 to $5.00 in a research note on Wednesday, December 14th. Finally, Truist Financial initiated coverage on QuantumScape in a research note on Wednesday, September 28th. They issued a “hold” rating and a $10.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.86.
QuantumScape Price Performance
The business has a 50-day simple moving average of $6.70 and a 200 day simple moving average of $8.81. The stock has a market cap of $3.37 billion, a P/E ratio of -8.99 and a beta of 5.27. The company has a current ratio of 25.68, a quick ratio of 25.68 and a debt-to-equity ratio of 0.03.
In related news, insider Mohit Singh sold 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $7.63, for a total transaction of $64,855.00. Following the transaction, the insider now directly owns 302,157 shares of the company’s stock, valued at approximately $2,305,457.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 57,843 shares of company stock valued at $441,626 in the last ninety days. 13.73% of the stock is owned by company insiders.
Institutional Trading of QuantumScape
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of QuantumScape in the second quarter valued at approximately $30,000. Emfo LLC bought a new position in QuantumScape during the third quarter valued at $32,000. Bray Capital Advisors bought a new position in QuantumScape during the third quarter valued at $47,000. Canada Pension Plan Investment Board bought a new position in QuantumScape during the first quarter valued at $120,000. Finally, IFP Advisors Inc grew its holdings in QuantumScape by 34.6% during the third quarter. IFP Advisors Inc now owns 6,223 shares of the company’s stock valued at $233,000 after purchasing an additional 1,600 shares during the period. 26.09% of the stock is owned by institutional investors.
QuantumScape Company Profile
QuantumScape Corporation, a 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.
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