QuantumScape (NYSE:QS) Shares Up 2.5% - Time to Buy?

QuantumScape Corporation (NYSE:QS - Get Free Report)'s stock price shot up 2.5% during trading on Monday . The company traded as high as $9.54 and last traded at $9.46. 15,409,095 shares were traded during trading, an increase of 6% from the average session volume of 14,538,546 shares. The stock had previously closed at $9.23.

Wall Street Analyst Weigh In

QS has been the topic of several research reports. UBS Group cut QuantumScape from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. The Goldman Sachs Group reduced their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Monday, April 28th. TD Cowen raised QuantumScape to a "hold" rating in a report on Monday, July 7th. Finally, Robert W. Baird reduced their price objective 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 analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $5.19.

QuantumScape Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 16.66 and a quick ratio of 16.66. The company has a market capitalization of $5.56 billion, a PE ratio of -10.92 and a beta of 4.42. The firm's fifty day simple moving average is $5.00 and its 200 day simple moving average is $4.79.

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

Insider Activity at QuantumScape

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

Institutional Trading of QuantumScape

A number of hedge funds and other institutional investors have recently made changes to their positions in QS. Vanguard Group Inc. increased its holdings in QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after purchasing an additional 2,911,362 shares during the last quarter. Geode Capital Management LLC increased its holdings in QuantumScape by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 5,882,031 shares of the company's stock valued at $30,538,000 after purchasing an additional 28,073 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in QuantumScape by 55.2% in 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 increased its holdings in QuantumScape by 456.5% in 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 purchasing an additional 3,904,168 shares during the last quarter. Finally, Norges Bank acquired a new stake in QuantumScape in the 4th quarter valued at approximately $17,762,000. Institutional investors and hedge funds own 29.87% of the company's stock.

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.

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