QuantumScape (NYSE:QS) Trading Down 3.1%

QuantumScape Co. (NYSE:QSGet Free Report) dropped 3.1% during trading on Tuesday . The company traded as low as $5.89 and last traded at $5.94. Approximately 2,423,659 shares changed hands during trading, a decline of 76% from the average daily volume of 10,000,766 shares. The stock had previously closed at $6.13.

Wall Street Analyst Weigh In

QS has been the topic of a number of recent analyst reports. William Blair began coverage on QuantumScape in a research note on Monday, December 18th. They set a “market perform” rating on the stock. Truist Financial boosted their price objective on QuantumScape from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Finally, Robert W. Baird boosted their price objective on QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus price target of $6.71.

View Our Latest Research Report on QS

QuantumScape Trading Up 0.8 %

The company has a 50-day moving average price of $6.44 and a two-hundred day moving average price of $6.51. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QSGet Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the previous year, the company posted ($0.25) earnings per share. As a group, sell-side analysts predict that QuantumScape Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey B. Straubel sold 69,309 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total transaction of $465,756.48. Following the completion of the transaction, the director now owns 292,644 shares of the company’s stock, valued at $1,966,567.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jeffrey B. Straubel sold 69,309 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total transaction of $465,756.48. Following the completion of the transaction, the director now owns 292,644 shares of the company’s stock, valued at $1,966,567.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares of the company’s stock, valued at approximately $4,514,150.93. The disclosure for this sale can be found here. Insiders have sold a total of 160,363 shares of company stock worth $1,038,288 over the last ninety days. Company insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. lifted its position in QuantumScape by 97.7% in the third quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after purchasing an additional 51,934 shares during the last quarter. Scotia Capital Inc. purchased a new stake in QuantumScape in the third quarter worth $95,000. Vanguard Group Inc. lifted its stake in QuantumScape by 23.3% in the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after acquiring an additional 5,483,319 shares during the period. Whittier Trust Co. purchased a new stake in QuantumScape in the fourth quarter worth $326,000. Finally, Gotham Asset Management LLC lifted its stake in QuantumScape by 72.4% in the third quarter. Gotham Asset Management LLC now owns 115,893 shares of the company’s stock worth $775,000 after acquiring an additional 48,684 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Company Profile

(Get Free Report)

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.

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