QuantumScape (NYSE:QS) Stock Price Down 0.6% – Here’s Why

Shares of QuantumScape Co. (NYSE:QS) dropped 0.6% on Friday . The stock traded as low as $4.77 and last traded at $4.82. Approximately 2,227,799 shares were traded during trading, a decline of 75% from the average daily volume of 8,819,386 shares. The stock had previously closed at $4.85.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QS. Truist Financial reissued a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.14.

QuantumScape Stock Performance

The firm has a fifty day moving average price of $5.50 and a 200 day moving average price of $5.76. The firm has a market cap of $2.45 billion, a PE ratio of -5.06 and a beta of 4.60. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period last year, the firm posted ($0.23) earnings per share. As a group, equities research analysts expect that QuantumScape Co. will post -0.97 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $5,890,890.78. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Timothy Holme sold 44,306 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total transaction of $270,709.66. Following the sale, the chief technology officer now owns 1,168,496 shares of the company’s stock, valued at $7,139,510.56. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 708,455 shares of company stock worth $4,121,274. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently modified their holdings of QS. Centiva Capital LP purchased a new stake in QuantumScape in the 3rd quarter valued at approximately $555,000. Arthedge Capital Management LLC boosted its stake in shares of QuantumScape by 14.6% during the third quarter. Arthedge Capital Management LLC now owns 723,000 shares of the company’s stock valued at $4,157,000 after acquiring an additional 92,000 shares during the last quarter. Atom Investors LP purchased a new stake in QuantumScape during the 3rd quarter worth about $60,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in QuantumScape by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock valued at $6,785,000 after purchasing an additional 94,103 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of QuantumScape by 74.9% during the 3rd quarter. FMR LLC now owns 14,070 shares of the company’s stock worth $81,000 after purchasing an additional 6,026 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Company Profile

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.