QuantumScape (NYSE:QS) Shares Down 2.2%

Shares of QuantumScape Co. (NYSE:QS) fell 2.2% on Friday . The stock traded as low as $4.86 and last traded at $4.95. 1,370,900 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 7,854,273 shares. The stock had previously closed at $5.06.

Wall Street Analysts Forecast Growth

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

QuantumScape Stock Performance

The stock has a 50-day moving average of $5.46 and a 200 day moving average of $6.20. 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 capitalization of $2.48 billion, a P/E ratio of -5.16 and a beta of 4.62.

QuantumScape (NYSE:QS) last posted its quarterly earnings data 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). On average, research analysts anticipate that QuantumScape Co. will post -0.89 earnings per share for the current year.

Insiders Place Their Bets

In other QuantumScape news, insider Michael O. Mccarthy III sold 22,554 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total transaction of $129,008.88. Following the transaction, the insider now owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Michael O. Mccarthy III sold 22,554 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the transaction, the insider now owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $6.14, for a total value of $212,486.98. Following the completion of the transaction, the chief financial officer now directly owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 516,675 shares of company stock valued at $2,894,443. 10.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Spire Wealth Management lifted its stake in shares of QuantumScape by 39.0% in the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the period. International Assets Investment Management LLC increased its position in shares of QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after buying an additional 5,296 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of QuantumScape by 57.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock valued at $56,000 after buying an additional 2,954 shares in the last quarter. StepStone Group LP bought a new stake in shares of QuantumScape in the 4th quarter valued at $56,000. Finally, Evergreen Wealth Solutions LLC bought a new stake in shares of QuantumScape in the 1st quarter valued at $64,000. 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.