QuantumScape (NYSE:QS) Trading Down 3.4% – Time to Sell?

QuantumScape Co. (NYSE:QS)’s stock price dropped 3.4% during trading on Tuesday . The company traded as low as $5.09 and last traded at $5.17. Approximately 3,614,746 shares traded hands during trading, a decline of 59% from the average daily volume of 8,874,789 shares. The stock had previously closed at $5.35.

Analysts Set New Price Targets

QS has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Truist Financial restated a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research report on Tuesday, November 19th. Wolfe Research assumed coverage on 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 report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Stock Up 0.4 %

The company has a market capitalization of $2.65 billion, a PE ratio of -5.45 and a beta of 4.60. The company’s fifty day moving average is $5.37 and its 200-day moving average is $5.74. 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 announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the firm earned ($0.23) EPS. As a group, analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kevin Hettrich sold 58,000 shares of QuantumScape stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total transaction of $335,240.00. Following the sale, the chief financial officer now owns 1,073,022 shares in the company, valued at $6,202,067.16. This trade represents a 5.13 % decrease in their ownership of the stock. 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 QuantumScape stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $5.90, for a total value of $625,895.60. Following the completion of the sale, the insider now directly owns 1,181,884 shares in the company, valued at $6,973,115.60. This trade represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 702,057 shares of company stock worth $3,982,909 over the last ninety days. Corporate insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QS. Signaturefd LLC raised its stake in QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares during the last quarter. CWM LLC grew its position in QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after acquiring an additional 2,556 shares in the last quarter. Mather Group LLC. bought a new stake in QuantumScape during the second quarter worth approximately $36,000. Finally, Alaska Wealth Advisors purchased a new stake in QuantumScape during the second quarter valued at approximately $49,000. 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.