QuantumScape (NYSE:QS) Hits New 52-Week High - Should You Buy?

Key Points

• QuantumScape's stock reached a new 52-week high of $17.77, closing at $15.70, with significant trading volume of over 17 million shares on that day.
• Analysts have mixed views on the company's prospects, with target prices ranging from a neutral rating of $11.00 to a bearish consensus target of $5.88.
• Insider sales have occurred, with CFO Kevin Hettrich selling 9,800 shares, indicating potential concerns over future performance as insiders have sold over 2 million shares recently.

QuantumScape Corporation (NYSE:QS - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $17.77 and last traded at $15.70, with a volume of 17933513 shares traded. The stock had previously closed at $15.33.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on QS shares. Robert W. Baird lifted their target price on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research note on Monday, July 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of QuantumScape in a research report on Saturday, September 27th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of "Reduce" and a consensus target price of $5.88.

QuantumScape Trading Down 0.4%

The firm has a market capitalization of $8.64 billion, a P/E ratio of -17.86 and a beta of 4.85. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. The firm's 50-day simple moving average is $10.03 and its 200-day simple moving average is $7.11.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $36.67 million for the quarter. During the same period in the previous year, the firm posted ($0.25) EPS. Analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Buying and Selling at QuantumScape

In other news, CFO Kevin Hettrich sold 9,800 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total value of $136,612.00. Following the completion of the sale, the chief financial officer directly owned 1,591,467 shares in the company, valued at approximately $22,185,049.98. The trade was a 0.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 38,035 shares of the business's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $9.13, for a total transaction of $347,259.55. Following the completion of the sale, the insider owned 1,397,382 shares of the company's stock, valued at approximately $12,758,097.66. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,327,870 shares of company stock valued at $26,819,135. Insiders own 5.48% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in QS. GAMMA Investing LLC purchased a new position in QuantumScape during the 3rd quarter valued at $46,000. Russell Investments Group Ltd. grew its position in shares of QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock worth $25,000 after buying an additional 3,311 shares during the period. North Capital Inc. bought a new position in QuantumScape in the 2nd quarter worth about $27,000. PNC Financial Services Group Inc. boosted its stake in QuantumScape by 54.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company's stock worth $37,000 after purchasing an additional 1,963 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in QuantumScape by 2,086.1% in the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after purchasing an additional 5,841 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other 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.

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