QuantumScape (NYSE:QS) Reaches New 12-Month High - Still a Buy?

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price reached a new 52-week high during trading on Saturday . The company traded as high as $9.77 and last traded at $9.22, with a volume of 55418253 shares. The stock had previously closed at $9.09.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. TD Cowen raised QuantumScape to a "hold" rating in a research note on Monday, July 7th. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and cut their price target for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. The Goldman Sachs Group cut their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research note on Monday, April 28th. Finally, Robert W. Baird cut their price target on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $5.19.

QuantumScape Price Performance

The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of -11.92 and a beta of 4.42. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. The company has a fifty day simple moving average of $5.13 and a 200 day simple moving average of $4.82.

QuantumScape (NYSE:QS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter in the prior year, the company earned ($0.24) earnings per share. Equities research analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Timothy Holme sold 11,906 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $7.02, for a total value of $83,580.12. Following the completion of the transaction, the chief technology officer directly owned 1,661,928 shares in the company, valued at $11,666,734.56. The trade was a 0.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Singh sold 465,000 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the completion of the transaction, the insider directly owned 1,641,711 shares of the company's stock, valued at $13,478,447.31. This represents a 22.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,589,468 shares of company stock worth $18,114,411 over the last three months. Company insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently modified their holdings of QS. Charles Schwab Investment Management Inc. grew its position in QuantumScape by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company's stock valued at $12,103,000 after buying an additional 104,894 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of QuantumScape in the 4th quarter valued at approximately $1,527,000. Swiss National Bank raised its stake in shares of QuantumScape by 2.2% in the 4th quarter. Swiss National Bank now owns 754,700 shares of the company's stock valued at $3,917,000 after acquiring an additional 16,500 shares during the period. Commonwealth Equity Services LLC increased its stake in QuantumScape by 9.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 481,916 shares of the company's stock worth $2,501,000 after buying an additional 41,712 shares during the period. Finally, Xponance Inc. increased its stake in QuantumScape by 17.8% during the 4th quarter. Xponance Inc. now owns 15,862 shares of the company's stock worth $82,000 after buying an additional 2,400 shares during the period. 29.87% of the stock is currently owned by institutional investors.

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.