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

QuantumScape Corporation (NYSE:QS - Get Free Report) shot up 2.7% on Friday . The stock traded as high as $7.09 and last traded at $6.99. 19,903,407 shares changed hands during mid-day trading, an increase of 41% from the average session volume of 14,153,750 shares. The stock had previously closed at $6.80.

Analysts Set New Price Targets

Several brokerages recently issued reports on QS. Robert W. Baird reduced their price objective on QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. UBS Group downgraded QuantumScape from a "neutral" rating to a "sell" rating and cut their price target for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.19.

QuantumScape Stock Performance

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 stock has a fifty day moving average price of $4.56 and a two-hundred day moving average price of $4.69. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -7.68 and a beta of 4.42.

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

Insider Transactions at QuantumScape

In related news, insider Mohit Singh sold 325,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $7.21, for a total transaction of $2,343,250.00. Following the transaction, the insider owned 1,641,711 shares of the company's stock, valued at approximately $11,836,736.31. This represents a 16.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Fritz Prinz sold 61,523 shares of QuantumScape stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total transaction of $242,400.62. Following the completion of the sale, the director directly owned 231,530 shares of the company's stock, valued at $912,228.20. The trade was a 20.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 747,951 shares of company stock valued at $4,629,048. Insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in QuantumScape during the fourth quarter worth approximately $1,527,000. 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. Cambridge Investment Research Advisors Inc. raised its position in shares of QuantumScape by 362.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock worth $1,577,000 after buying an additional 297,097 shares during the period. Vanguard Group Inc. boosted its holdings in QuantumScape by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock valued at $168,367,000 after acquiring an additional 956,072 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in QuantumScape by 1,091.5% in the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock valued at $2,244,000 after acquiring an additional 396,160 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.