QuantumScape (NYSE:QS) Sees Large Volume Increase – Time to Buy?

QuantumScape Co. (NYSE:QS) saw unusually-high trading volume on Friday . Approximately 5,062,020 shares changed hands during mid-day trading, a decline of 41% from the previous session’s volume of 8,562,432 shares.The stock last traded at $6.04 and had previously closed at $6.50.

Analyst Ratings Changes

Several research analysts recently issued reports on QS shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating for the company. Finally, Truist Financial restated a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.14.

QuantumScape Stock Performance

The business’s 50 day simple moving average is $5.69 and its two-hundred day simple moving average is $5.81. The firm has a market capitalization of $3.09 billion, a PE ratio of -6.45 and a beta of 4.58. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the previous year, the company posted ($0.23) EPS. Research analysts expect that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total transaction of $76,931.68. Following the sale, the director now owns 254,103 shares in the company, valued at approximately $1,514,453.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the completion of the sale, the director now owns 254,103 shares in the company, valued at approximately $1,514,453.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael O. Mccarthy III sold 222,476 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $6.58, for a total value of $1,463,892.08. Following the sale, the insider now directly owns 1,283,847 shares in the company, valued at approximately $8,447,713.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,126,067 shares of company stock worth $6,659,475 over the last quarter. 10.18% of the stock is currently owned by corporate insiders.

Institutional Trading of QuantumScape

A number of institutional investors and hedge funds have recently bought and sold shares of QS. Mirae Asset Global Investments Co. Ltd. increased its stake in QuantumScape by 240.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after acquiring an additional 3,004,964 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of QuantumScape by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock valued at $207,306,000 after purchasing an additional 796,723 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in QuantumScape in the second quarter worth $1,950,000. American Century Companies Inc. raised its stake in QuantumScape by 880.6% during the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in QuantumScape by 10.3% during the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after purchasing an additional 251,186 shares during the last quarter. 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.