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

Shares of QuantumScape Corporation (NYSE:QS) gapped up prior to trading on Thursday . The stock had previously closed at $7.17, but opened at $7.58. QuantumScape shares last traded at $6.9870, with a volume of 3,906,678 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on QS. Morgan Stanley reduced their price objective on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on QuantumScape in a research report on Thursday, February 12th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and reduced their price objective for the stock from $10.50 to $8.30 in a research report on Wednesday, February 18th. Finally, TD Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Six research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $9.90.

QuantumScape Price Performance

The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -8.67 and a beta of 2.54. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $6.98 and a two-hundred day simple moving average of $10.74.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 11th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.22) earnings per share. As a group, research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $6.73, for a total value of $302,850.00. Following the completion of the sale, the insider directly owned 954,219 shares in the company, valued at $6,421,893.87. This represents a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 9,800 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $6.20, for a total value of $60,760.00. Following the completion of the sale, the chief financial officer owned 1,357,918 shares of the company’s stock, valued at $8,419,091.60. This trade represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 666,925 shares of company stock valued at $4,483,577. 5.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. VSM Wealth Advisory LLC increased its holdings in shares of QuantumScape by 46.8% in the third quarter. VSM Wealth Advisory LLC now owns 2,352 shares of the company’s stock valued at $29,000 after buying an additional 750 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of QuantumScape by 0.7% in the third quarter. Vontobel Holding Ltd. now owns 120,753 shares of the company’s stock valued at $1,488,000 after buying an additional 810 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of QuantumScape by 5.7% in the third quarter. Wedmont Private Capital now owns 15,115 shares of the company’s stock valued at $186,000 after buying an additional 815 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of QuantumScape by 8.2% in the third quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company’s stock valued at $153,000 after buying an additional 939 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its stake in QuantumScape by 67.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock valued at $31,000 after purchasing an additional 1,005 shares during the period. Institutional investors own 29.87% of the company’s stock.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.