QuantumScape (NYSE:QS) Sets New 1-Year High - Should You Buy?

QuantumScape Corporation (NYSE:QS - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $13.79 and last traded at $13.64, with a volume of 110680368 shares trading hands. The stock had previously closed at $11.35.

Wall Street Analyst Weigh In

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

QuantumScape Trading Up 7.6%

The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $5.61 and a two-hundred day moving average price of $4.96.

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period last year, the company earned ($0.24) EPS. As a group, sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In related news, Director Fritz Prinz sold 864,708 shares of QuantumScape stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $7.02, for a total transaction of $6,070,250.16. Following the completion of the sale, the director owned 81,364 shares of the company's stock, valued at approximately $571,175.28. This trade represents a 91.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Timothy Holme sold 358,330 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $7.03, for a total value of $2,519,059.90. Following the completion of the transaction, the chief technology officer owned 1,705,428 shares in the company, valued at $11,989,158.84. This represents a 17.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,589,468 shares of company stock valued at $18,114,411. 12.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in QuantumScape by 9.0% in the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after acquiring an additional 2,911,362 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of QuantumScape by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 5,882,031 shares of the company's stock worth $30,538,000 after purchasing an additional 28,073 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of QuantumScape by 55.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock valued at $30,183,000 after purchasing an additional 2,066,844 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of QuantumScape by 456.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock valued at $19,799,000 after buying an additional 3,904,168 shares in the last quarter. Finally, Norges Bank bought a new stake in QuantumScape in the 4th quarter worth approximately $17,762,000. 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.