QuantumScape (NYSE:QS) Shares Down 2% – Here’s Why

Shares of QuantumScape Co. (NYSE:QS) were down 2% during mid-day trading on Monday . The stock traded as low as $4.88 and last traded at $4.92. Approximately 3,519,866 shares changed hands during trading, a decline of 60% from the average daily volume of 8,750,395 shares. The stock had previously closed at $5.02.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on QS. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Truist Financial reiterated a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, QuantumScape presently has an average rating of “Hold” and a consensus target price of $6.14.

QuantumScape Stock Performance

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’s fifty day moving average is $5.55 and its 200-day moving average is $5.78. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -5.18 and a beta of 4.60.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period last year, the business earned ($0.23) earnings per share. Equities analysts anticipate that QuantumScape Co. will post -0.97 earnings per share for the current year.

Insider Activity

In other news, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the transaction, the director now owns 2,590,583 shares of the company’s stock, valued at $15,517,592.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total transaction of $76,931.68. Following the completion of the sale, the director now owns 254,103 shares in the company, valued at approximately $1,514,453.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the transaction, the director now owns 2,590,583 shares in the company, valued at approximately $15,517,592.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 711,321 shares of company stock worth $4,138,097 in the last quarter. 12.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC grew its holdings in QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after buying an additional 2,148 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of 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 acquiring an additional 4,228 shares in the last quarter. CWM LLC grew its stake 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 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 valued at about $36,000. Finally, Alaska Wealth Advisors bought a new position in shares of QuantumScape during the second quarter valued at about $49,000. 29.87% of the stock is owned by 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.