QuantumScape (NYSE:QS) Trading 2.5% Higher - Time to Buy?

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

Analysts Set New Price Targets

QS has been the subject of several research reports. The Goldman Sachs Group cut 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. Robert W. Baird cut their target price on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. UBS Group downgraded shares of 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 report on Thursday, April 10th. Finally, TD Cowen raised shares of QuantumScape to a "hold" rating in a research note on Monday, July 7th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. Based on data from MarketBeat, QuantumScape currently has a consensus rating of "Hold" and an average price target of $5.19.

QuantumScape Trading Up 20.2%

The business's fifty day moving average price is $5.42 and its 200 day moving average price is $4.91. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $7.62 billion, a PE ratio of -14.99 and a beta of 4.42.

QuantumScape (NYSE:QS - Get Free Report) last released its 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 period in the previous year, the firm earned ($0.24) EPS. As a group, analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 465,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total value of $3,817,650.00. Following the sale, the insider directly owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. This trade represents a 22.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fritz Prinz sold 864,708 shares of QuantumScape stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $7.02, for a total value of $6,070,250.16. Following the completion of the sale, the director owned 81,364 shares of the company's stock, valued at $571,175.28. This trade represents a 91.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,589,468 shares of company stock worth $18,114,411 over the last quarter. 12.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

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

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.