QuantumScape (NYSE:QS) Shares Down 5.1% – Here’s Why

QuantumScape Co. (NYSE:QS) fell 5.1% on Thursday . The stock traded as low as $4.78 and last traded at $4.82. 18,160,939 shares changed hands during mid-day trading, an increase of 95% from the average session volume of 9,328,144 shares. The stock had previously closed at $5.08.

Analysts Set New Price Targets

QS has been the topic of a number of recent research reports. Truist Financial reissued a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. 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 equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.26.

QuantumScape Trading Down 6.9 %

The stock’s 50 day simple moving average is $5.19 and its 200 day simple moving average is $5.66. The firm has a market cap of $2.42 billion, a PE ratio of -4.98 and a beta of 4.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the firm posted ($0.23) EPS. On average, 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 QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated 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 directly owns 1,073,022 shares in the company, valued at $5,890,890.78. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction dated Monday, December 9th. The stock was 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 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 three months, insiders have sold 666,032 shares of company stock valued at $3,549,682. Corporate insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

A number of institutional investors have recently made changes to their positions in QS. Signaturefd LLC raised its stake 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 acquiring an additional 2,148 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares during the period. CWM LLC grew its position in shares of QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the last quarter. Atom Investors LP purchased a new position in shares of QuantumScape during the third quarter valued at approximately $60,000. Finally, Centaurus Financial Inc. bought a new position in shares of QuantumScape during the second quarter valued at approximately $52,000. Hedge funds and other 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.