QuantumScape (NYSE:QS) Sets New 52-Week Low – Time to Sell?

QuantumScape Co. (NYSE:QS) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $4.63 and last traded at $4.71, with a volume of 3728253 shares traded. The stock had previously closed at $4.80.

Analysts Set New Price Targets

A number of research firms have weighed in on QS. Truist Financial reduced their target price on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.06.

QuantumScape Stock Down 2.4 %

The company’s 50-day moving average is $5.29 and its 200 day moving average is $5.38. The stock has a market capitalization of $2.40 billion, a PE ratio of -4.98 and a beta of 4.45. 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 quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, analysts anticipate that QuantumScape Co. will post -0.82 EPS for the current year.

Insiders Place Their Bets

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of the company’s 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 sale, the insider now directly owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.22, for a total value of $67,379.76. Following the transaction, the director now owns 228,287 shares of the company’s stock, valued at $1,191,658.14. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 615,216 shares of company stock valued at $3,327,157. 12.03% of the stock is owned by company insiders.

Institutional Trading of QuantumScape

Several hedge funds and other institutional investors have recently bought and sold shares of QS. Norges Bank purchased a new stake in QuantumScape in the 4th quarter worth approximately $17,762,000. Dimensional Fund Advisors LP lifted its stake in shares of QuantumScape by 55.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company’s stock valued at $30,183,000 after purchasing an additional 2,066,844 shares during the period. Vanguard Group Inc. grew its position in QuantumScape by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock valued at $168,367,000 after buying an additional 956,072 shares during the period. Centiva Capital LP grew its position in QuantumScape by 479.0% during the fourth quarter. Centiva Capital LP now owns 558,715 shares of the company’s stock valued at $2,900,000 after buying an additional 462,218 shares during the period. Finally, American Century Companies Inc. increased its holdings in QuantumScape by 1,091.5% in the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock valued at $2,244,000 after buying an additional 396,160 shares in the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.

QuantumScape Company Profile

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.