QuantumScape (NYSE:QS) Trading Down 4.2% – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s share price dropped 4.2% during trading on Friday . The stock traded as low as $5.43 and last traded at $5.48. Approximately 5,765,409 shares traded hands during trading, a decline of 74% from the average daily volume of 21,944,346 shares. The stock had previously closed at $5.72.

Analyst Ratings Changes

Several equities research analysts recently commented on QS shares. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Truist Financial reiterated 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. Finally, Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Performance

The firm has a market cap of $2.86 billion, a P/E ratio of -5.88 and a beta of 4.46. 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 company’s 50-day moving average is $5.22 and its two-hundred day moving average is $5.68.

QuantumScape (NYSE:QS) last posted its 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 quarter in the prior year, the company posted ($0.23) earnings per share. As a group, equities analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In related news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the transaction, the director now directly owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 55,647 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the sale, the chief financial officer now owns 1,022,743 shares of the company’s stock, valued at $5,164,852.15. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 536,460 shares of company stock worth $2,903,619. Corporate insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its stake in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after acquiring 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. Centaurus Financial Inc. bought a new stake in shares of QuantumScape in the second quarter valued at approximately $52,000. Atom Investors LP bought a new position in QuantumScape in the 3rd quarter worth approximately $60,000. Finally, Nwam LLC purchased a new position in QuantumScape in the 3rd quarter valued at approximately $64,000. 29.87% of the stock is owned by institutional investors.

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.