QuantumScape (NYSE:QS) Sees Large Volume Increase – Should You Buy?

Shares of QuantumScape Co. (NYSE:QS) saw unusually-strong trading volume on Wednesday . Approximately 16,277,338 shares traded hands during mid-day trading, an increase of 77% from the previous session’s volume of 9,206,415 shares.The stock last traded at $5.67 and had previously closed at $5.31.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QS. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Truist Financial reiterated a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research report on Tuesday, November 19th. Finally, Wolfe Research assumed coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating and seven have issued 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 target price of $6.26.

QuantumScape Stock Down 4.3 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The firm’s fifty day moving average price is $5.20 and its two-hundred day moving average price is $5.66. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -5.35 and a beta of 4.50.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the company earned ($0.23) EPS. Sell-side analysts forecast that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total transaction of $65,056.32. Following the sale, the director now owns 241,195 shares in the company, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jagdeep Singh sold 308,097 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.30, for a total value of $1,632,914.10. Following the completion of the transaction, the director now directly owns 2,563,767 shares in the company, valued at approximately $13,587,965.10. This represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 666,032 shares of company stock worth $3,549,682. 12.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after purchasing an additional 87,563 shares during the period. Geode Capital Management LLC lifted its holdings in shares of QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $12,806,000 after purchasing an additional 93,826 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of QuantumScape by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock worth $6,785,000 after buying an additional 94,103 shares during the last quarter. Finally, Bank of New York Mellon Corp increased 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 buying an additional 11,897 shares in the last quarter. 29.87% of the stock is 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.