QuantumScape (NYSE:QS) Reaches New 1-Year Low – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $4.03 and last traded at $4.18, with a volume of 2121073 shares traded. The stock had previously closed at $4.33.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QS. Truist Financial lowered their target price on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and a consensus target price of $6.06.

QuantumScape Stock Performance

The stock’s 50-day moving average price is $4.81 and its 200-day moving average price is $5.18. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -4.40 and a beta of 4.45. 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 quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, equities research analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.22, for a total value of $67,379.76. Following the completion of the sale, the director now owns 228,287 shares in the company, valued at approximately $1,191,658.14. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael O. Mccarthy III sold 76,315 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $399,127.45. Following the transaction, the insider now directly owns 1,010,523 shares in the company, valued at $5,285,035.29. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,147 shares of company stock valued at $935,758 in the last ninety days. Insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in QuantumScape in the fourth quarter worth about $26,000. Raiffeisen Bank International AG bought a new stake in shares of QuantumScape in the 4th quarter valued at approximately $29,000. Blue Trust Inc. raised its position in shares of QuantumScape by 208.8% during the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after acquiring an additional 4,556 shares in the last quarter. Atlas Legacy Advisors LLC bought a new position in QuantumScape during the fourth quarter worth $53,000. Finally, Empowered Funds LLC acquired a new position in QuantumScape in the fourth quarter worth $53,000. 29.87% of the stock is currently owned by hedge funds and other 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.