QuantumScape (NYSE:QS) Shares Down 0.4% – Here’s What Happened

QuantumScape Co. (NYSE:QS) was down 0.4% during mid-day trading on Thursday . The company traded as low as $4.99 and last traded at $5.02. Approximately 2,221,922 shares traded hands during trading, a decline of 74% from the average daily volume of 8,701,796 shares. The stock had previously closed at $5.04.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research assumed coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.14.

QuantumScape Stock Performance

The stock’s 50 day moving average price is $5.55 and its 200 day moving average price is $5.78. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.57 billion, a PE ratio of -5.27 and a beta of 4.60.

QuantumScape (NYSE:QS) last issued its earnings results 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 last year, the firm earned ($0.23) EPS. As a group, equities analysts forecast that QuantumScape Co. will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction 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 sale, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at $5,890,890.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the completion of the transaction, the director now directly owns 2,590,583 shares of the company’s stock, valued at $14,325,923.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total transaction 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 approximately $5,890,890.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 903,591 shares of company stock valued at $5,195,582. Company insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QS. Quantbot Technologies LP grew its holdings in QuantumScape by 34.6% during the 1st quarter. Quantbot Technologies LP now owns 165,961 shares of the company’s stock worth $1,044,000 after acquiring an additional 42,692 shares in the last quarter. SG Americas Securities LLC grew its holdings in QuantumScape by 11.7% during the 1st quarter. SG Americas Securities LLC now owns 75,158 shares of the company’s stock worth $473,000 after acquiring an additional 7,879 shares in the last quarter. Swiss National Bank grew its holdings in QuantumScape by 9.3% during the 1st quarter. Swiss National Bank now owns 678,800 shares of the company’s stock worth $4,270,000 after acquiring an additional 58,000 shares in the last quarter. RPG Investment Advisory LLC acquired a new position in QuantumScape during the 1st quarter worth $69,000. Finally, Entropy Technologies LP acquired a new position in shares of QuantumScape in the 1st quarter valued at about $92,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.