QuantumScape (NYSE:QS) Reaches New 1-Year High – Should You Buy?

QuantumScape Corporation (NYSE:QS)’s stock price reached a new 52-week high on Friday . The company traded as high as $13.79 and last traded at $13.64, with a volume of 110680368 shares changing hands. The stock had previously closed at $11.35.

Analysts Set New Price Targets

QS has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a research note on Monday, April 28th. UBS Group downgraded shares of QuantumScape from a “neutral” rating to a “sell” rating and lowered their target price for the company from $5.00 to $2.50 in a report on Thursday, April 10th. Robert W. Baird cut their price target on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Finally, TD Cowen upgraded shares of QuantumScape to a “hold” rating in a report on Monday, July 7th. Three research analysts have rated the stock with a sell rating and seven have assigned 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 Price Performance

The company has a market cap of $8.18 billion, a P/E ratio of -16.08 and a beta of 4.42. The company’s 50-day moving average price is $5.82 and its two-hundred day moving average price is $5.03. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period in the previous year, the business posted ($0.24) EPS. As a group, sell-side analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Activity at QuantumScape

In related news, insider Mohit Singh sold 465,000 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the completion of the sale, the insider directly owned 1,641,711 shares in the company, valued at approximately $13,478,447.31. This trade represents a 22.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fritz Prinz sold 864,708 shares of the company’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $7.02, for a total value of $6,070,250.16. Following the completion of the transaction, the director directly 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 disclosure for this sale can be found here. Insiders have sold 2,589,468 shares of company stock worth $18,114,411 over the last quarter. 12.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Several institutional investors have recently bought and sold shares of the stock. Signaturefd LLC boosted 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 during the period. Heck Capital Advisors LLC acquired a new position in shares of QuantumScape during the fourth quarter valued at about $26,000. 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 valued at $26,000 after buying an additional 5,438 shares during the period. Hollencrest Capital Management grew 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 buying an additional 5,000 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in QuantumScape during the fourth quarter valued at about $29,000. 29.87% of the stock is currently owned by 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.