QuantumScape (NYSE:QS) Stock Price Down 3.4% – Should You Sell?

QuantumScape Co. (NYSE:QS) was down 3.4% during mid-day trading on Tuesday . The stock traded as low as $5.09 and last traded at $5.17. Approximately 3,614,746 shares traded hands during trading, a decline of 59% from the average daily volume of 8,874,789 shares. The stock had previously closed at $5.35.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on QS shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research started coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Price Performance

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 market capitalization of $2.64 billion, a P/E ratio of -5.44 and a beta of 4.60. The company has a 50 day moving average of $5.40 and a 200-day moving average of $5.74.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the prior year, the company earned ($0.23) EPS. On average, sell-side analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 58,000 shares of QuantumScape stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total value of $335,240.00. Following the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at $6,202,067.16. The trade was a 5.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael O. Mccarthy III sold 27,305 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.07, for a total transaction of $138,436.35. Following the completion of the transaction, the insider now directly owns 1,129,167 shares of the company’s stock, valued at $5,724,876.69. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 702,057 shares of company stock worth $3,982,909. Company insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in QuantumScape by 2.2% in the first 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 during the last quarter. Janus Henderson Group PLC raised its stake in QuantumScape by 1.4% during the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock worth $11,482,000 after buying an additional 25,347 shares during the last quarter. California State Teachers Retirement System raised its stake in QuantumScape by 2.3% during the first quarter. California State Teachers Retirement System now owns 344,306 shares of the company’s stock worth $2,166,000 after buying an additional 7,585 shares during the last quarter. Tidal Investments LLC lifted its holdings in QuantumScape by 202.0% in the first quarter. Tidal Investments LLC now owns 137,755 shares of the company’s stock valued at $866,000 after buying an additional 92,142 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in QuantumScape during the first quarter valued at $1,002,000. 29.87% of the stock is currently owned by 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.