QuantumScape (NYSE:QS) Trading Down 3.3% – Should You Sell?

Shares of QuantumScape Co. (NYSE:QS) dropped 3.3% during mid-day trading on Wednesday . The stock traded as low as $4.98 and last traded at $5.03. Approximately 3,757,423 shares changed hands during trading, a decline of 57% from the average daily volume of 8,695,034 shares. The stock had previously closed at $5.20.

Analyst Upgrades and Downgrades

QS has been the topic of a number of analyst reports. Wolfe Research assumed coverage on QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating on the stock. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, QuantumScape presently has a consensus rating of “Hold” and an average target price of $6.14.

QuantumScape Stock Performance

The company has a 50-day moving average of $5.60 and a 200-day moving average of $5.79. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its 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 period in the previous year, the company posted ($0.23) EPS. As a group, research analysts predict that QuantumScape Co. will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In related news, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.50, for a total transaction of $1,057,485.00. Following the sale, the director now directly owns 2,809,253 shares in the company, valued at approximately $15,450,891.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Jagdeep Singh sold 192,270 shares of the firm’s 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 completion of the sale, the director now owns 2,809,253 shares in the company, valued at approximately $15,450,891.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the completion of the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 903,591 shares of company stock worth $5,195,582. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC lifted its position in shares of QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in QuantumScape by 475.1% during 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 last quarter. CWM LLC boosted its position in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $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 worth about $36,000. Finally, Alaska Wealth Advisors bought a new stake in shares of QuantumScape in the second quarter valued at approximately $49,000. 29.87% of the stock is 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.