QuantumScape (NYSE:QS) Shares Down 0.4% – Here’s What Happened

QuantumScape Co. (NYSE:QS) traded down 0.4% during trading on Thursday . The stock traded as low as $4.99 and last traded at $5.02. 2,221,922 shares were traded during mid-day trading, a decline of 74% from the average session volume of 8,701,796 shares. The stock had previously closed at $5.04.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued 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. Finally, Wolfe Research assumed coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, QuantumScape has a consensus rating of “Hold” and an average target price of $6.14.

QuantumScape Price Performance

The company has a market capitalization of $2.57 billion, a P/E ratio of -5.27 and a beta of 4.60. The business’s 50-day simple moving average is $5.55 and its 200 day simple moving average is $5.78. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the prior year, the company posted ($0.23) EPS. As a group, sell-side analysts anticipate that QuantumScape Co. will post -0.97 EPS for the current year.

Insider Buying and Selling

In related news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $5,890,890.78. The trade was 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 related news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $5,890,890.78. The trade was 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. Also, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the completion of the transaction, the director now directly owns 2,590,583 shares in the company, valued at approximately $14,325,923.99. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 903,591 shares of company stock worth $5,195,582 in the last ninety days. 12.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after acquiring an additional 656,646 shares in the last quarter. Janus Henderson Group PLC grew its position in QuantumScape by 1.4% during the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after purchasing an additional 25,347 shares in the last quarter. Bank of New York Mellon Corp grew its position in QuantumScape by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock valued at $4,579,000 after purchasing an additional 11,897 shares in the last quarter. Swiss National Bank grew its position in QuantumScape by 9.3% during the first quarter. Swiss National Bank now owns 678,800 shares of the company’s stock valued at $4,270,000 after purchasing an additional 58,000 shares in the last quarter. Finally, Private Advisory Group LLC grew its position in QuantumScape by 7.2% during the second quarter. Private Advisory Group LLC now owns 570,704 shares of the company’s stock valued at $2,808,000 after purchasing an additional 38,477 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Company Profile

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.