QuantumScape (NYSE:QS) Shares Down 1.6% – Time to Sell?

Shares of QuantumScape Co. (NYSE:QS) were down 1.6% during trading on Thursday . The stock traded as low as $4.96 and last traded at $4.99. Approximately 2,076,725 shares changed hands during trading, a decline of 76% from the average daily volume of 8,832,681 shares. The stock had previously closed at $5.07.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a report on Tuesday. Truist Financial reiterated a “hold” rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Wolfe Research initiated coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape currently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Performance

The business has a 50-day simple moving average of $5.44 and a 200 day simple moving average of $5.75. 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 has a market cap of $2.61 billion, a PE ratio of -5.25 and a beta of 4.60.

QuantumScape (NYSE:QS) last posted its quarterly earnings results 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 period last year, the company posted ($0.23) EPS. Equities research analysts forecast that QuantumScape Co. will post -0.97 EPS for the current year.

Insider Buying and Selling

In related news, Director Jagdeep Singh sold 5,531 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael O. Mccarthy III sold 106,084 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $5.90, for a total transaction of $625,895.60. Following the completion of the sale, the insider now directly owns 1,181,884 shares of the company’s stock, valued at approximately $6,973,115.60. The trade was a 8.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 606,197 shares of company stock worth $3,498,399. 12.03% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Large investors have recently modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of QuantumScape by 79.9% during the 3rd 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 increased its holdings in shares of QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after purchasing an additional 4,228 shares in the last quarter. CWM LLC boosted its stake in shares of QuantumScape by 56.0% during the 2nd 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. acquired a new stake in QuantumScape in the second quarter valued at approximately $36,000. Finally, Alaska Wealth Advisors purchased a new stake in QuantumScape in the 2nd quarter worth $49,000. Hedge funds and other 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.