QuantumScape (NYSE:QS) Stock Price Down 1.1% – Should You Sell?

QuantumScape Co. (NYSE:QS)’s share price dropped 1.1% during trading on Wednesday . The stock traded as low as $5.04 and last traded at $5.08. Approximately 2,687,002 shares were traded during trading, a decline of 84% from the average daily volume of 16,469,477 shares. The stock had previously closed at $5.13.

Wall Street Analyst Weigh In

QS has been the topic of several research analyst reports. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research note on Tuesday, November 19th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, QuantumScape has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Price Performance

The company’s 50 day moving average price is $5.29 and its 200-day moving average price is $5.67. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -5.36 and a beta of 4.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

Insiders Place Their Bets

In related news, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the sale, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the sale, the director now owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 536,460 shares of company stock worth $2,903,619 over the last ninety days. 12.03% of the stock is currently owned by company insiders.

Institutional Trading of QuantumScape

Institutional investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC bought a new position in shares of QuantumScape in the fourth quarter valued at approximately $26,000. Signaturefd LLC raised its position in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC raised its position in shares of QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after purchasing an additional 4,228 shares during the period. Blue Trust Inc. raised its position in shares of QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after purchasing an additional 4,556 shares during the period. Finally, Centaurus Financial Inc. bought a new position in shares of QuantumScape in the second quarter valued at approximately $52,000. 29.87% of the stock is currently 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.