QuantumScape (NYSE:QS) Sees Large Volume Increase - Still a Buy?

Shares of QuantumScape Corporation (NYSE:QS - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 32,291,638 shares were traded during mid-day trading, an increase of 49% from the previous session's volume of 21,674,309 shares.The stock last traded at $12.49 and had previously closed at $12.52.

Analysts Set New Price Targets

Several equities research analysts have issued reports on QS shares. Robert W. Baird lifted their price target on shares of QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday. TD Cowen raised QuantumScape to a "hold" rating in a research report on Monday, July 7th. UBS Group cut QuantumScape from a "neutral" rating to a "sell" rating and reduced their price target for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group decreased their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research note on Monday, April 28th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $5.90.

QuantumScape Stock Performance

The firm has a 50-day moving average of $6.51 and a 200 day moving average of $5.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $36.67 million during the quarter. During the same period in the prior year, the business posted ($0.25) earnings per share. Equities research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Mohit Singh sold 465,000 shares of QuantumScape stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total value of $3,817,650.00. Following the sale, the insider owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. The trade was a 22.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Timothy Holme sold 11,906 shares of the company's stock in a transaction 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 transaction, the chief technology officer directly owned 1,661,928 shares in the company, valued at $11,666,734.56. This represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,589,468 shares of company stock worth $29,734,411 over the last quarter. Insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in QuantumScape during the fourth quarter worth about $1,527,000. Commonwealth Equity Services LLC grew its holdings in shares of QuantumScape by 9.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 481,916 shares of the company's stock worth $2,501,000 after purchasing an additional 41,712 shares in the last quarter. Xponance Inc. grew its holdings in shares of QuantumScape by 17.8% during the fourth quarter. Xponance Inc. now owns 15,862 shares of the company's stock worth $82,000 after purchasing an additional 2,400 shares in the last quarter. American Century Companies Inc. increased its position in shares of QuantumScape by 1,091.5% in the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock worth $2,244,000 after purchasing an additional 396,160 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in QuantumScape in the fourth quarter valued at approximately $403,000. 29.87% of the stock is 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.