QuantumScape (NYSE:QS) Shares Down 2% – Here’s Why

Shares of QuantumScape Co. (NYSE:QS) fell 2% on Monday . The company traded as low as $4.98 and last traded at $5.06. 3,919,529 shares changed hands during trading, a decline of 77% from the average session volume of 17,209,998 shares. The stock had previously closed at $5.16.

Analyst Upgrades and Downgrades

QS has been the subject of a number of analyst reports. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research report on Tuesday, November 19th. Finally, Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, QuantumScape presently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Down 0.7 %

The company has a market capitalization of $2.61 billion, a P/E ratio of -5.36 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 stock’s fifty day moving average is $5.29 and its 200 day moving average is $5.67.

Insider Activity

In related news, CFO Kevin Hettrich sold 55,647 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.05, for a total transaction of $281,017.35. Following the transaction, the chief financial officer now owns 1,022,743 shares in the company, valued at $5,164,852.15. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of QuantumScape stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the sale, the director now directly owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 536,460 shares of company stock valued at $2,903,619. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently made changes to their positions in QS. Heck Capital Advisors LLC purchased a new stake in QuantumScape during the 4th quarter valued at about $26,000. Signaturefd LLC raised its holdings in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares during the last quarter. International Assets Investment Management LLC raised its holdings in QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after acquiring an additional 4,228 shares during the last quarter. Blue Trust Inc. lifted its position in QuantumScape by 208.8% in the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after acquiring an additional 4,556 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new stake in shares of QuantumScape in the 2nd quarter worth $52,000. Institutional investors own 29.87% of the company’s stock.

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.