QuantumScape (NYSE:QS) Shares Down 2.8%

QuantumScape Co. (NYSE:QS)’s stock price was down 2.8% on Monday . The stock traded as low as $5.49 and last traded at $5.52. Approximately 1,523,639 shares were traded during trading, a decline of 84% from the average daily volume of 9,358,378 shares. The stock had previously closed at $5.68.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group reduced their price objective on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, QuantumScape currently has a consensus rating of “Hold” and an average target price of $6.62.

QuantumScape Stock Down 1.5 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 10.38. The business has a 50 day simple moving average of $6.05 and a 200 day simple moving average of $6.07. The stock has a market cap of $2.83 billion, a PE ratio of -5.94 and a beta of 4.62.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter last year, the company earned ($0.26) earnings per share. On average, equities research analysts forecast that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 45,848 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $5.61, for a total transaction 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 $6,428,055.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction that occurred on Tuesday, May 21st. The shares were 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 $6,906,900. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kevin Hettrich sold 45,848 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $5.61, for a total transaction of $257,207.28. Following the sale, the chief financial officer now directly owns 1,145,821 shares of the company’s stock, valued at $6,428,055.81. The disclosure for this sale can be found here. Insiders have sold a total of 1,262,308 shares of company stock worth $7,391,080 in the last 90 days. 10.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Spire Wealth Management lifted its holdings in shares of QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares during the last quarter. CWM LLC increased its position in QuantumScape by 56.0% during 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 during the period. Mather Group LLC. acquired a new position in QuantumScape during the 2nd quarter valued at $36,000. International Assets Investment Management LLC boosted its holdings in 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 purchasing an additional 5,296 shares during the period. Finally, Alaska Wealth Advisors acquired a new stake in QuantumScape in the 2nd quarter worth $49,000. 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.