QuantumScape (NYSE:QS) Trading Down 1.8% – What’s Next?

QuantumScape Co. (NYSE:QS)’s stock price was down 1.8% during mid-day trading on Friday . The stock traded as low as $4.84 and last traded at $4.90. Approximately 4,027,954 shares were traded during trading, a decline of 54% from the average daily volume of 8,729,480 shares. The stock had previously closed at $4.99.

Analysts Set New Price Targets

QS has been the subject of several analyst reports. Truist Financial restated a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Wolfe Research started coverage on QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, QuantumScape presently has an average rating of “Hold” and an average target price of $6.14.

QuantumScape Price Performance

The firm has a market capitalization of $2.52 billion, a P/E ratio of -5.16 and a beta of 4.60. The business’s 50-day simple moving average is $5.57 and its 200 day simple moving average is $5.78. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the firm posted ($0.23) EPS. Sell-side analysts forecast that QuantumScape Co. will post -0.97 earnings per share for the current year.

Insider Activity at QuantumScape

In other news, CTO Timothy Holme sold 44,306 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total transaction of $270,709.66. Following the completion of the sale, the chief technology officer now directly owns 1,168,496 shares in the company, valued at approximately $7,139,510.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CTO Timothy Holme sold 44,306 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total transaction of $270,709.66. Following the completion of the sale, the chief technology officer now directly owns 1,168,496 shares in the company, valued at approximately $7,139,510.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jurgen Leohold sold 17,435 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $6.00, for a total transaction of $104,610.00. Following the sale, the director now owns 194,904 shares of the company’s stock, valued at approximately $1,169,424. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 903,591 shares of company stock worth $5,195,582 in the last three months. 12.03% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after acquiring an additional 656,646 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in QuantumScape in the second quarter worth $1,950,000. American Century Companies Inc. lifted its position in QuantumScape by 880.6% during the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after buying an additional 316,361 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of QuantumScape during the 1st quarter valued at $1,002,000. Finally, Nisa Investment Advisors LLC grew its position in shares of QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after buying an additional 133,000 shares during the period. 29.87% of the stock is currently 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.