QuantumScape (NYSE:QS) Shares Down 2.4% – What’s Next?

QuantumScape Co. (NYSE:QS)’s share price was down 2.4% on Tuesday . The stock traded as low as $4.89 and last traded at $4.93. Approximately 2,449,579 shares traded hands during trading, a decline of 72% from the average daily volume of 8,767,718 shares. The stock had previously closed at $5.05.

Wall Street Analyst Weigh In

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

QuantumScape Stock Performance

The stock’s 50 day moving average is $5.54 and its two-hundred day moving average is $5.78. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -5.19 and a beta of 4.60. 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 issued 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 quarter in the prior year, the company posted ($0.23) earnings per share. Analysts expect that QuantumScape Co. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other news, CTO Timothy Holme sold 44,306 shares of QuantumScape stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total value of $270,709.66. Following the sale, the chief technology officer now directly owns 1,168,496 shares in the company, valued at $7,139,510.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total transaction of $76,931.68. Following the completion of the transaction, the director now directly owns 254,103 shares of the company’s stock, valued at approximately $1,514,453.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Timothy Holme sold 44,306 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total value of $270,709.66. Following the completion of the transaction, the chief technology officer now owns 1,168,496 shares of the company’s stock, valued at approximately $7,139,510.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 711,321 shares of company stock valued at $4,138,097 in the last ninety days. 12.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Several large investors have recently made changes to their positions in QS. SG Americas Securities LLC increased its holdings in QuantumScape by 11.7% during the first quarter. SG Americas Securities LLC now owns 75,158 shares of the company’s stock worth $473,000 after buying an additional 7,879 shares during the last quarter. Swiss National Bank increased its stake in shares of QuantumScape by 9.3% during the 1st quarter. Swiss National Bank now owns 678,800 shares of the company’s stock worth $4,270,000 after purchasing an additional 58,000 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of QuantumScape in the 1st quarter valued at about $92,000. HBK Sorce Advisory LLC raised its holdings in shares of QuantumScape by 23.1% in the 1st quarter. HBK Sorce Advisory LLC now owns 26,537 shares of the company’s stock valued at $167,000 after purchasing an additional 4,986 shares during the period. Finally, Resolute Advisors LLC acquired a new stake in QuantumScape in the 1st quarter valued at about $189,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.