QuantumScape (NYSE:QS) Trading Down 2.1% – Here’s Why

QuantumScape Co. (NYSE:QS)’s share price dropped 2.1% on Tuesday . The stock traded as low as $4.93 and last traded at $4.97. Approximately 2,964,473 shares changed hands during trading, a decline of 83% from the average daily volume of 16,958,639 shares. The stock had previously closed at $5.07.

Wall Street Analyst Weigh In

QS has been the topic of several research analyst reports. Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, 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 research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.26.

QuantumScape Price Performance

The stock’s 50-day moving average price is $5.28 and its 200-day moving average price is $5.69. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -5.39 and a beta of 4.46. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

Insider Transactions at QuantumScape

In related news, insider Mohit Singh sold 97,305 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the transaction, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the transaction, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 536,460 shares of company stock worth $2,903,619. Corporate insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Large investors have recently bought and sold shares of the business. Heck Capital Advisors LLC acquired a new position in QuantumScape in the fourth quarter valued at approximately $26,000. Signaturefd LLC raised its holdings in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC raised its holdings in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares during the period. Blue Trust Inc. raised its holdings in QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after purchasing an additional 4,556 shares during the period. Finally, Centaurus Financial Inc. acquired a new stake in QuantumScape in the second quarter worth $52,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.