QuantumScape (NYSE:QS) Hits New 1-Year Low - Here's Why

QuantumScape Co. (NYSE:QS - Get Free Report) shares 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 changing hands. The stock had previously closed at $4.80.

Analyst Ratings Changes

Several brokerages recently weighed in on QS. Hsbc Global Res upgraded QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. HSBC raised shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Evercore ISI restated a "hold" rating on shares of QuantumScape in a research note on Tuesday, February 25th. Finally, Truist Financial lowered their price objective on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $6.06.

QuantumScape Stock Down 9.4 %

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -4.52 and a beta of 4.45. The stock has a 50 day moving average price of $5.28 and a 200 day moving average price of $5.37.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.01). As a group, analysts forecast that QuantumScape Co. will post -0.82 EPS for the current year.

Insider Buying and Selling at QuantumScape

In related news, insider Mohit Singh sold 97,305 shares of the company's stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the sale, the insider now owns 1,092,020 shares in the company, valued at $6,814,204.80. This represents a 8.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Hettrich sold 53,975 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $282,289.25. Following the sale, the chief financial officer now directly owns 930,800 shares of the company's stock, valued at $4,868,084. This represents a 5.48 % 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 currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently modified their holdings of QS. Heck Capital Advisors LLC acquired a new position in shares of QuantumScape during the 4th quarter valued at $26,000. International Assets Investment Management LLC increased its stake in 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 in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of QuantumScape during the fourth quarter valued at about $29,000. Blue Trust Inc. boosted its position in shares of QuantumScape by 208.8% during the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company's stock worth $39,000 after purchasing an additional 4,556 shares in the last quarter. Finally, Atlas Legacy Advisors LLC acquired a new stake in shares of QuantumScape in the 4th quarter valued at about $53,000. 29.87% of the stock is currently owned by institutional investors.

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.