QuantumScape (NYSE:QS) Sets New 12-Month Low – Time to Sell?

QuantumScape Co. (NYSE:QS)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $4.03 and last traded at $4.18, with a volume of 2121073 shares traded. The stock had previously closed at $4.33.

Wall Street Analysts Forecast Growth

QS has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.06.

QuantumScape Price Performance

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $4.77 and a two-hundred day moving average of $5.16. The firm has a market cap of $2.23 billion, a P/E ratio of -4.34 and a beta of 4.45.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Sell-side analysts expect that QuantumScape Co. will post -0.82 EPS for the current year.

Insider Buying and Selling at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.22, for a total value of $67,379.76. Following the transaction, the director now directly owns 228,287 shares of the company’s stock, valued at $1,191,658.14. This trade represents a 5.35 % 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 76,315 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the sale, the insider now owns 1,010,523 shares in the company, valued at $5,285,035.29. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,147 shares of company stock valued at $935,758. Corporate insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently added to or reduced their stakes in QS. Ieq Capital LLC lifted its holdings in shares of QuantumScape by 2.6% in the fourth quarter. Ieq Capital LLC now owns 87,370 shares of the company’s stock valued at $453,000 after purchasing an additional 2,200 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in QuantumScape by 2.0% in the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock worth $595,000 after acquiring an additional 2,300 shares in the last quarter. Xponance Inc. boosted its position in QuantumScape by 17.8% during the 4th quarter. Xponance Inc. now owns 15,862 shares of the company’s stock worth $82,000 after acquiring an additional 2,400 shares during the period. Arizona State Retirement System grew its stake in QuantumScape by 2.3% during the 4th quarter. Arizona State Retirement System now owns 111,364 shares of the company’s stock valued at $578,000 after acquiring an additional 2,483 shares in the last quarter. Finally, Birchcreek Wealth Management LLC increased its holdings in shares of QuantumScape by 13.6% in the 4th quarter. Birchcreek Wealth Management LLC now owns 22,583 shares of the company’s stock valued at $117,000 after purchasing an additional 2,700 shares during the period. 29.87% of the stock is currently owned by hedge funds and other 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.