QuantumScape (NYSE:QS) Trading Down 1.6% – Here’s Why

QuantumScape Co. (NYSE:QS) traded down 1.6% during mid-day trading on Thursday . The company traded as low as $4.96 and last traded at $4.99. 2,076,725 shares were traded during trading, a decline of 76% from the average session volume of 8,832,681 shares. The stock had previously closed at $5.07.

Analyst Ratings Changes

Several brokerages recently weighed in on QS. Truist Financial reiterated a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research initiated coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, QuantumScape presently has an average rating of “Hold” and a consensus target price of $6.26.

QuantumScape Trading Up 0.4 %

The stock has a market cap of $2.61 billion, a PE ratio of -5.25 and a beta of 4.60. The business has a 50-day moving average of $5.44 and a 200 day moving average of $5.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS) last released its quarterly earnings data 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 firm posted ($0.23) earnings per share. Equities research analysts predict that QuantumScape Co. will post -0.97 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 58,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total value of $335,240.00. Following the sale, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at $6,202,067.16. This represents a 5.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jagdeep Singh sold 192,270 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 2,590,583 shares in the company, valued at $15,517,592.17. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 606,197 shares of company stock worth $3,498,399. Corporate insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

Several institutional investors have recently added to or reduced their stakes in QS. Vanguard Group Inc. raised its holdings in shares of QuantumScape by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after purchasing an additional 656,646 shares during the period. Westwood Holdings Group Inc. acquired a new stake in shares of QuantumScape during the first quarter worth $82,000. Manhattan West Asset Management LLC raised its holdings in shares of QuantumScape by 142.7% during the first quarter. Manhattan West Asset Management LLC now owns 68,031 shares of the company’s stock worth $428,000 after purchasing an additional 40,005 shares during the period. Evergreen Wealth Solutions LLC acquired a new stake in shares of QuantumScape during the first quarter worth $64,000. Finally, Janus Henderson Group PLC grew its position in shares of QuantumScape by 1.4% during the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock worth $11,482,000 after acquiring an additional 25,347 shares during the last quarter. 29.87% of the stock is 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.