QuantumScape (NYSE:QS) Shares Up 2.7% - Still a Buy?

QuantumScape Corporation (NYSE:QS - Get Free Report)'s stock price rose 2.7% on Friday . The company traded as high as $7.09 and last traded at $6.99. Approximately 19,903,407 shares traded hands during trading, an increase of 41% from the average daily volume of 14,153,750 shares. The stock had previously closed at $6.80.

Wall Street Analysts Forecast Growth

Several research firms have commented on QS. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $5.00 to $2.50 in a research report on Thursday, April 10th. The Goldman Sachs Group decreased their target price on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, April 28th. Finally, Robert W. Baird decreased 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. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $5.19.

QuantumScape Stock Performance

The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -7.71 and a beta of 4.42. The firm's 50 day moving average is $4.62 and its 200 day moving average is $4.70. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last issued 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 last year, the firm posted ($0.24) EPS. Equities analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insiders Place Their Bets

In other QuantumScape news, insider Mohit Singh sold 325,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $7.21, for a total value of $2,343,250.00. Following the completion of the sale, the insider directly owned 1,641,711 shares of the company's stock, valued at $11,836,736.31. This represents a 16.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Fritz Prinz sold 61,523 shares of QuantumScape stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total transaction of $242,400.62. Following the transaction, the director directly owned 231,530 shares of the company's stock, valued at $912,228.20. This represents a 20.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 747,951 shares of company stock worth $4,629,048 over the last quarter. 12.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its position in shares of QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after buying an additional 5,841 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of QuantumScape during the 4th quarter worth approximately $26,000. Federated Hermes Inc. grew its position in shares of QuantumScape by 660.0% during the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after buying an additional 5,438 shares during the period. Hollencrest Capital Management grew its position in shares of QuantumScape by 333.3% during the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after buying an additional 5,000 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in shares of QuantumScape during the 4th quarter worth approximately $29,000. 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.