QuantumScape (NYSE:QS) Shares Down 3% – What’s Next?

QuantumScape Co. (NYSE:QS)’s share price fell 3% on Thursday . The stock traded as low as $5.14 and last traded at $5.16. 3,688,034 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 8,687,094 shares. The stock had previously closed at $5.32.

Analyst Ratings Changes

Several research firms recently weighed in on QS. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.14.

QuantumScape Trading Down 0.6 %

The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -5.39 and a beta of 4.58. The business’s 50 day moving average price is $5.63 and its 200-day moving average price is $5.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 8.66.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the firm earned ($0.23) EPS. Equities analysts forecast that QuantumScape Co. will post -0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total transaction of $76,931.68. Following the completion of the sale, the director now directly owns 254,103 shares in the company, valued at $1,514,453.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total value of $76,931.68. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at $5,890,890.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 903,591 shares of company stock valued at $5,195,582. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its stake 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 boosted its stake 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. CWM LLC boosted its stake in shares of QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares during the period. Mather Group LLC. purchased a new position in shares of QuantumScape in the second quarter valued at $36,000. Finally, Alaska Wealth Advisors purchased a new position in shares of QuantumScape in the second quarter valued at $49,000. 29.87% of the stock is 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.