QuantumScape (NYSE:QS) Stock Price Up 12.9% - Still a Buy?

Key Points

• QuantumScape's stock price increased by 12.9% on Wednesday, closing at $13.91 after reaching a high of $13.03, with significantly lower trading volume.
• Analysts have set a price target range for QuantumScape, with an average consensus of $5.88, while six analysts rated it as a Hold and two as Sell.
• Insiders have sold a total of 3.79 million shares of QuantumScape stock recently, indicating potential concerns regarding their ownership stakes.

QuantumScape Corporation (NYSE:QS - Get Free Report) shares shot up 12.9% on Wednesday . The stock traded as high as $13.03 and last traded at $13.91. 7,865,925 shares traded hands during trading, a decline of 69% from the average session volume of 25,763,047 shares. The stock had previously closed at $12.32.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Robert W. Baird lifted their price objective on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. TD Cowen upgraded QuantumScape to a "hold" rating in a research report on Monday, July 7th. Six investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $5.88.

QuantumScape Stock Up 15.6%

The company has a market cap of $8.06 billion, a price-to-earnings ratio of -16.53 and a beta of 4.42. The business has a fifty day moving average of $9.67 and a two-hundred day moving average of $6.74. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03.

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

Insider Activity at QuantumScape

In other QuantumScape news, CTO Timothy Holme sold 358,330 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $7.03, for a total transaction of $2,519,059.90. Following the transaction, the chief technology officer directly owned 1,705,428 shares of the company's stock, valued at $11,989,158.84. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael O. Mccarthy III sold 500,000 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the sale, the insider directly owned 1,467,183 shares of the company's stock, valued at $17,019,322.80. This represents a 25.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,791,051 shares of company stock valued at $34,696,538 in the last three months. Company insiders own 5.48% of the company's stock.

Institutional Trading of QuantumScape

Several large investors have recently made changes to their positions in QS. Signaturefd LLC lifted its holdings in QuantumScape by 2,086.1% in the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after purchasing an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of QuantumScape by 685.5% in the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock valued at $25,000 after buying an additional 3,311 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after buying an additional 5,438 shares in the last quarter. Hollencrest Capital Management boosted its position in QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after acquiring an additional 5,000 shares during the last quarter. Finally, North Capital Inc. purchased a new stake in QuantumScape during the 2nd quarter valued at about $27,000. 29.87% of the stock is currently owned by hedge funds and other 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.

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