QuantumScape (NYSE:QS) Stock Price Down 1.6%

QuantumScape Co. (NYSE:QS)’s share price fell 1.6% during trading on Monday . The company traded as low as $4.83 and last traded at $4.84. 1,015,647 shares traded hands during trading, a decline of 87% from the average session volume of 7,934,758 shares. The stock had previously closed at $4.92.

Analyst Ratings Changes

Several research analysts have commented on the company. Truist Financial lowered their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. UBS Group dropped their price objective on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, QuantumScape has a consensus rating of “Hold” and a consensus price target of $6.67.

QuantumScape Trading Down 2.0 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38. The firm has a market cap of $2.41 billion, a P/E ratio of -5.04 and a beta of 4.62. The business’s fifty day moving average is $5.49 and its 200-day moving average is $6.25.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, April 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). Analysts predict that QuantumScape Co. will post -0.89 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jagdeep Singh sold 192,270 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $5.35, for a total value of $1,028,644.50. Following the sale, the director now directly owns 2,809,253 shares in the company, valued at $15,029,503.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kevin Hettrich sold 45,848 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $5.61, for a total value of $257,207.28. Following the transaction, the chief financial officer now directly owns 1,145,821 shares of the company’s stock, valued at approximately $6,428,055.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $5.35, for a total value of $1,028,644.50. Following the sale, the director now owns 2,809,253 shares in the company, valued at approximately $15,029,503.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 490,859 shares of company stock valued at $2,768,719. 10.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in QuantumScape by 23.3% in the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock valued at $194,221,000 after purchasing an additional 5,483,319 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of QuantumScape by 240.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after buying an additional 3,004,964 shares during the period. Norges Bank bought a new stake in QuantumScape in the 4th quarter valued at about $18,482,000. Baillie Gifford & Co. raised its stake in QuantumScape by 10.3% during the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock worth $16,854,000 after buying an additional 251,186 shares during the period. Finally, Trexquant Investment LP bought a new position in QuantumScape in the fourth quarter worth approximately $1,560,000. 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.