QuantumScape (NYSE:QS) Shares Down 0.2% – What’s Next?

QuantumScape Co. (NYSE:QS)’s stock price was down 0.2% during trading on Wednesday . The stock traded as low as $5.13 and last traded at $5.15. Approximately 2,229,893 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 8,870,018 shares. The stock had previously closed at $5.16.

Analyst Ratings Changes

A number of brokerages have issued reports on QS. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Truist Financial reaffirmed a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a report on Tuesday, November 19th. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Price Performance

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $5.37 and a two-hundred day moving average price of $5.74.

QuantumScape (NYSE:QS) last issued 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 in the previous year, the business posted ($0.23) EPS. On average, sell-side analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the transaction, the director now directly owns 241,195 shares in the company, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael O. Mccarthy III sold 106,084 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $5.90, for a total transaction of $625,895.60. Following the transaction, the insider now 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. Insiders have sold a total of 702,057 shares of company stock valued at $3,982,909 over the last quarter. 12.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently modified their holdings of QS. Sanctuary Advisors LLC raised its position in QuantumScape by 28.2% in the third quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after acquiring an additional 35,579 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of QuantumScape during the 3rd quarter worth $235,000. Barclays PLC increased its holdings in shares of QuantumScape by 326.5% in the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock valued at $599,000 after purchasing an additional 79,871 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of QuantumScape by 139.2% in the third quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after purchasing an additional 26,820 shares during the period. 29.87% of the stock is 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.