QuantumScape (NYSE:QS) Shares Down 8.6% – Here’s Why

QuantumScape Co. (NYSE:QS)’s share price traded down 8.6% during trading on Wednesday . The stock traded as low as $5.67 and last traded at $5.75. 12,385,883 shares were traded during mid-day trading, a decline of 45% from the average session volume of 22,383,760 shares. The stock had previously closed at $6.29.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research report on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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 business’s 50 day moving average price is $5.23 and its 200 day moving average price is $5.68. The stock has a market capitalization of $2.87 billion, a P/E ratio of -5.91 and a beta of 4.46.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the firm earned ($0.23) EPS. Sell-side analysts forecast that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Buying and Selling

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction dated 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 sale, the insider now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the transaction, the director now directly owns 241,195 shares in the company, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 536,460 shares of company stock worth $2,903,619 over the last three months. 12.03% of the stock is owned by insiders.

Institutional Investors Weigh In On QuantumScape

Large investors have recently modified their holdings of the business. Signaturefd LLC lifted its position in shares of QuantumScape by 79.9% during the third 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 position 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 acquiring an additional 4,228 shares during the last quarter. Atom Investors LP acquired a new stake in QuantumScape in the third quarter valued at approximately $60,000. Centaurus Financial Inc. purchased a new position in QuantumScape in the second quarter worth $52,000. Finally, Nwam LLC acquired a new position in shares of QuantumScape during the third quarter worth $64,000. 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.