QuantumScape (NYSE:QS) Shares Down 3.4% – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s stock price fell 3.4% during trading on Tuesday . The company traded as low as $5.09 and last traded at $5.17. 3,614,746 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 8,874,789 shares. The stock had previously closed at $5.35.

Analyst Ratings Changes

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

QuantumScape Trading Up 0.4 %

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 $2.65 billion, a PE ratio of -5.45 and a beta of 4.60. The firm has a fifty day simple moving average of $5.37 and a two-hundred day simple moving average of $5.74.

QuantumScape (NYSE:QS) last released its quarterly earnings results 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 quarter last year, the company posted ($0.23) EPS. Equities analysts forecast that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Activity at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the business’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. The trade was a 5.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin Hettrich sold 58,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total transaction of $335,240.00. Following the completion of the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $6,202,067.16. This represents a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 702,057 shares of company stock worth $3,982,909 over the last 90 days. 12.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC lifted its holdings in shares of QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the last quarter. International Assets Investment Management LLC raised its stake in QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares during the last quarter. CWM LLC boosted its holdings in QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after acquiring an additional 2,556 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of QuantumScape in the second quarter worth $36,000. Finally, Alaska Wealth Advisors bought a new position in shares of QuantumScape during the second quarter valued at $49,000. Institutional investors 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.