QuantumScape (NYSE:QS) Sees Large Volume Increase - Still a Buy?

QuantumScape Co. (NYSE:QS - Get Free Report) saw an uptick in trading volume on Friday . 5,062,020 shares were traded 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 Upgrades and Downgrades

QS has been the topic of several research analyst reports. 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 initiated coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an "underperform" rating on the stock. Finally, Truist Financial reissued a "hold" rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday. Two 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 stock presently has a consensus rating of "Hold" and an average target price of $6.14.

QuantumScape Stock Performance

The stock has a fifty day simple moving average of $5.68 and a 200-day simple moving average of $5.81. The stock has a market cap of $3.09 billion, a P/E ratio of -6.53 and a beta of 4.58. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the business earned ($0.23) earnings per share. Equities analysts expect that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the completion of the sale, the chief financial officer now owns 1,073,022 shares of the company's stock, valued at approximately $5,890,890.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the transaction, the chief financial officer now directly owns 1,073,022 shares of the company's stock, valued at $5,890,890.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 222,476 shares of QuantumScape stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the sale, the insider now directly owns 1,283,847 shares of the company's stock, valued at approximately $8,447,713.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,126,067 shares of company stock valued at $6,659,475. 10.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently bought and sold shares of QS. Vanguard Group Inc. raised its position in shares of QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company's stock valued at $191,750,000 after buying an additional 656,646 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of QuantumScape by 240.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company's stock valued at $26,770,000 after buying an additional 3,004,964 shares in the last quarter. Baillie Gifford & Co. grew its holdings in QuantumScape by 10.3% in the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company's stock worth $16,854,000 after acquiring an additional 251,186 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of QuantumScape by 1.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company's stock valued at $11,482,000 after purchasing an additional 25,347 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in QuantumScape by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company's stock valued at $4,579,000 after acquiring an additional 11,897 shares during the period. 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.