QuantumScape (NYSE:QS) Trading Up 15.4% - Still a Buy?

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price was up 15.4% during mid-day trading on Tuesday . The stock traded as high as $8.29 and last traded at $8.09. Approximately 30,108,953 shares were traded during mid-day trading, an increase of 111% from the average daily volume of 14,282,188 shares. The stock had previously closed at $7.01.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QS. The Goldman Sachs Group reduced their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, April 28th. Robert W. Baird dropped 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 cut QuantumScape from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Finally, TD Cowen upgraded QuantumScape to a "hold" rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $5.19.

QuantumScape Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. The company has a 50-day moving average of $4.90 and a 200-day moving average of $4.78. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of -10.16 and a beta of 4.42.

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

Insider Buying and Selling at QuantumScape

In other QuantumScape 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 sale, the chief technology officer owned 1,661,928 shares in the company, valued at approximately $11,666,734.56. The trade was a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Fritz Prinz sold 864,708 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $571,175.28. The trade was a 91.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,589,468 shares of company stock worth $18,114,411. Corporate insiders own 12.03% of the company's stock.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently made changes to their positions in QS. Signaturefd LLC raised its stake 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 purchasing an additional 5,841 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of QuantumScape during the 4th quarter worth approximately $26,000. Federated Hermes Inc. raised its stake 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 purchasing an additional 5,438 shares in the last quarter. Hollencrest Capital Management raised its stake 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 purchasing an additional 5,000 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of QuantumScape during the 4th quarter worth approximately $29,000. Institutional investors 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.