QuantumScape (NYSE:QS) Shares Up 1% - Should You Buy?

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price traded up 1% on Wednesday . The company traded as high as $8.79 and last traded at $8.26. 28,885,297 shares traded hands during trading, an increase of 99% from the average session volume of 14,550,076 shares. The stock had previously closed at $8.18.

Wall Street Analysts Forecast Growth

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

QuantumScape Price Performance

The firm has a fifty day moving average price of $4.90 and a two-hundred day moving average price of $4.78. The stock has a market capitalization of $5.15 billion, a P/E ratio of -10.13 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.

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

Insider Buying and Selling at QuantumScape

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 stock was 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 of the company's stock, valued at approximately $11,666,734.56. The trade was a 0.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fritz Prinz sold 864,708 shares of the firm's 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 transaction, 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. Insiders have sold a total of 2,589,468 shares of company stock valued at $18,114,411 over the last ninety days. 12.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Xponance Inc. increased its holdings 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 purchasing an additional 2,400 shares during the period. Arizona State Retirement System increased its holdings in QuantumScape by 2.3% during the 4th quarter. Arizona State Retirement System now owns 111,364 shares of the company's stock worth $578,000 after purchasing an additional 2,483 shares during the period. Birchcreek Wealth Management LLC increased its holdings in QuantumScape by 11.5% during the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock worth $105,000 after purchasing an additional 2,600 shares during the period. HighTower Advisors LLC increased its holdings in QuantumScape by 13.7% during the 1st quarter. HighTower Advisors LLC now owns 23,611 shares of the company's stock worth $98,000 after purchasing an additional 2,838 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its holdings in QuantumScape by 19.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,199 shares of the company's stock worth $94,000 after purchasing an additional 2,997 shares during the period. Hedge funds and other institutional investors 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.