QuantumScape (NYSE:QS) Sees Strong Trading Volume – Should You Buy?

QuantumScape Corporation (NYSE:QS) shares saw strong trading volume on Thursday . 17,399,509 shares traded hands during trading, an increase of 38% from the previous session’s volume of 12,580,248 shares.The stock last traded at $6.42 and had previously closed at $5.67.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QS. The Goldman Sachs Group reduced their price objective on QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a research note on Monday, April 28th. UBS Group cut shares of QuantumScape from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Finally, Robert W. Baird decreased their price target on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.19.

QuantumScape Price Performance

The stock has a market cap of $3.70 billion, a P/E ratio of -7.27 and a beta of 4.27. The company’s 50 day moving average price is $4.28 and its 200-day moving average price is $4.63. 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) last announced its earnings results 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 period last year, the company earned ($0.24) earnings per share. As a group, sell-side analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mohit Singh sold 71,428 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $4.41, for a total value of $314,997.48. Following the transaction, the insider now owns 1,640,998 shares in the company, valued at $7,236,801.18. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fritz Prinz sold 61,523 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total transaction of $242,400.62. Following the sale, the director now directly owns 231,530 shares in the company, valued at $912,228.20. This trade represents a 20.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 747,951 shares of company stock valued at $4,629,048 over the last ninety days. 12.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Several large investors have recently added to or reduced their stakes in QS. Handelsbanken Fonder AB boosted its holdings in shares of QuantumScape by 2.0% during the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock worth $595,000 after buying an additional 2,300 shares in the last quarter. Xponance Inc. lifted its position in shares of QuantumScape by 17.8% during the 4th quarter. Xponance Inc. now owns 15,862 shares of the company’s stock valued at $82,000 after acquiring an additional 2,400 shares during the period. Arizona State Retirement System boosted its stake in QuantumScape by 2.3% during the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company’s stock worth $578,000 after acquiring an additional 2,483 shares in the last quarter. Birchcreek Wealth Management LLC grew its holdings in QuantumScape by 11.5% in the first quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company’s stock worth $105,000 after purchasing an additional 2,600 shares during the period. Finally, HighTower Advisors LLC grew its holdings in QuantumScape by 13.7% in the first quarter. HighTower Advisors LLC now owns 23,611 shares of the company’s stock worth $98,000 after purchasing an additional 2,838 shares during the period. 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.