QuantumScape (NYSE:QS) Trading Up 7% - Should You Buy?

Shares of QuantumScape Corporation (NYSE:QS - Get Free Report) shot up 7% on Thursday . The company traded as high as $8.93 and last traded at $8.94. 16,608,266 shares changed hands during trading, an increase of 13% from the average session volume of 14,684,175 shares. The stock had previously closed at $8.36.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QS. TD Cowen raised shares of QuantumScape to a "hold" rating in a research report on Monday. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and reduced their price target for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. The Goldman Sachs Group reduced their price target 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. Finally, Robert W. Baird reduced their target price on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $5.19.

QuantumScape Trading Up 8.6%

The business's 50-day moving average price is $4.90 and its 200 day moving average price is $4.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.66 and a quick ratio of 16.66. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of -9.97 and a beta of 4.42.

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results 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 last year, the business earned ($0.24) EPS. On average, equities analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 864,708 shares of QuantumScape stock in a transaction 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 approximately $571,175.28. The trade was a 91.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Timothy Holme sold 11,906 shares of QuantumScape stock in a transaction on Monday, July 7th. The stock was sold at an average price of $7.02, for a total transaction of $83,580.12. Following the completion of the sale, the chief technology officer owned 1,661,928 shares of the company's stock, valued at approximately $11,666,734.56. This trade represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,589,468 shares of company stock worth $18,114,411. Insiders own 12.03% of the company's stock.

Institutional Trading of QuantumScape

A number of hedge funds and other institutional investors have recently made changes to their positions in QS. Signaturefd LLC increased its stake in shares of QuantumScape by 2,086.1% in the first 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 last quarter. Heck Capital Advisors LLC bought a new stake in QuantumScape during the fourth quarter valued at $26,000. Federated Hermes Inc. increased its stake in QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock valued at $26,000 after purchasing an additional 5,438 shares during the last quarter. Hollencrest Capital Management increased its stake in QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in QuantumScape during the fourth quarter valued at $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.