QuantumScape (NYSE:QS) Trading Down 0.4% – Here’s Why

QuantumScape Co. (NYSE:QS)’s share price traded down 0.4% during mid-day trading on Thursday . The company traded as low as $4.99 and last traded at $5.02. 2,221,922 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 8,701,796 shares. The stock had previously closed at $5.04.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Truist Financial reissued 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. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.14.

QuantumScape Price Performance

The stock has a market capitalization of $2.58 billion, a PE ratio of -5.28 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. The firm has a 50 day moving average price of $5.58 and a 200 day moving average price of $5.79.

QuantumScape (NYSE:QS) last posted its quarterly earnings data 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 quarter in the previous year, the firm earned ($0.23) earnings per share. Research analysts anticipate that QuantumScape Co. will post -0.97 earnings per share for the current year.

Insider Activity

In other news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the completion of the transaction, the director now owns 254,103 shares of the company’s stock, valued at $1,514,453.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the sale, the director now owns 254,103 shares of the company’s stock, valued at $1,514,453.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $5.50, for a total transaction of $1,057,485.00. Following the sale, the director now owns 2,809,253 shares of the company’s stock, valued at $15,450,891.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 903,591 shares of company stock worth $5,195,582 in the last three months. Company insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in QuantumScape by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after acquiring an additional 656,646 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in QuantumScape during the second quarter valued at about $1,950,000. American Century Companies Inc. grew its stake in QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in QuantumScape in the first quarter worth about $1,002,000. Finally, Nisa Investment Advisors LLC raised its holdings in QuantumScape by 6,650.0% in the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after purchasing an additional 133,000 shares in the last quarter. Hedge funds and other institutional investors 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.