QuantumScape (NYSE:QS) Trading Down 9.1% – Should You Sell?

QuantumScape Co. (NYSE:QS) shares were down 9.1% during mid-day trading on Thursday . The stock traded as low as $5.56 and last traded at $5.72. 25,693,550 shares traded hands during trading, an increase of 2% from the average daily volume of 25,287,398 shares. The stock had previously closed at $6.29.

Wall Street Analysts Forecast Growth

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

QuantumScape Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The company’s 50-day simple moving average is $5.20 and its 200-day simple moving average is $5.68. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -6.02 and a beta of 4.46.

QuantumScape (NYSE:QS) last issued its quarterly earnings data 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 business earned ($0.23) EPS. On average, equities research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the completion of the transaction, the director now directly owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. This represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 536,460 shares of company stock valued at $2,903,619. 12.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors have recently bought and sold shares of QS. Signaturefd LLC lifted its holdings 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. Farther Finance Advisors LLC lifted its holdings in shares of QuantumScape by 32.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock valued at $78,000 after buying an additional 3,310 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in QuantumScape by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after purchasing an additional 3,527 shares during the last quarter. International Assets Investment Management LLC lifted 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 purchasing an additional 4,228 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in QuantumScape by 4.6% in the 2nd quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock worth $486,000 after purchasing an additional 4,330 shares during the last quarter. Hedge funds and other 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.