QuantumScape (NYSE:QS) Shares Down 3% - Here's What Happened

Shares of QuantumScape Co. (NYSE:QS - Get Free Report) traded down 3% on Thursday . The company traded as low as $5.14 and last traded at $5.16. 3,688,034 shares traded hands during trading, a decline of 58% from the average session volume of 8,687,094 shares. The stock had previously closed at $5.32.

Wall Street Analyst Weigh In

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

QuantumScape Stock Down 3.2 %

The business has a 50-day moving average price of $5.65 and a 200-day moving average price of $5.79. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -5.42 and a beta of 4.58. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the company posted ($0.23) EPS. As a group, equities analysts anticipate that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other news, CFO Kevin Hettrich sold 58,000 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total value of $335,240.00. Following the completion of the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at $6,202,067.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other QuantumScape news, CTO Timothy Holme sold 44,306 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total transaction of $270,709.66. Following the sale, the chief technology officer now directly owns 1,168,496 shares in the company, valued at $7,139,510.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin Hettrich sold 58,000 shares of QuantumScape stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total transaction of $335,240.00. Following the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $6,202,067.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 903,591 shares of company stock worth $5,195,582 over the last ninety days. Company insiders own 12.03% of the company's stock.

Institutional Trading of QuantumScape

Large investors have recently made changes to their positions in the company. Signaturefd LLC grew its stake in shares of QuantumScape by 79.9% during 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 period. International Assets Investment Management LLC raised its position in shares of QuantumScape by 475.1% in 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 period. CWM LLC lifted its stake in shares of QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company's stock valued at $35,000 after buying an additional 2,556 shares in the last quarter. Mather Group LLC. bought a new position in QuantumScape in the 2nd quarter worth approximately $36,000. Finally, Alaska Wealth Advisors purchased a new position in QuantumScape in the 2nd quarter valued at approximately $49,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.