QuantumScape (NYSE:QS) Stock Price Down 1.5% - Here's Why

QuantumScape Co. (NYSE:QS - Get Free Report)'s stock price fell 1.5% during mid-day trading on Tuesday . The company traded as low as $5.29 and last traded at $5.31. 4,438,646 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 20,585,576 shares. The stock had previously closed at $5.39.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Truist Financial reissued a "hold" rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. HSBC raised shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price objective on the stock in a report on Tuesday, November 19th. Finally, Hsbc Global Res raised shares of QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, QuantumScape presently has an average rating of "Hold" and a consensus target price of $6.26.

QuantumScape Stock Down 2.8 %

The company's fifty day moving average is $5.23 and its 200-day moving average is $5.70. The company has a market cap of $2.69 billion, a PE ratio of -5.52 and a beta of 4.46. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). During the same period last year, the firm posted ($0.23) earnings per share. On average, analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 55,647 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.05, for a total transaction of $281,017.35. Following the completion of the transaction, the chief financial officer now owns 1,022,743 shares in the company, valued at $5,164,852.15. This trade represents a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 536,460 shares of company stock worth $2,903,619 in the last three months. 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. Canada Pension Plan Investment Board purchased a new stake in shares of QuantumScape in the second quarter worth approximately $1,950,000. American Century Companies Inc. increased its stake in QuantumScape by 880.6% in the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company's stock worth $1,733,000 after buying an additional 316,361 shares during the period. Geode Capital Management LLC lifted its holdings in QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company's stock valued at $33,671,000 after buying an additional 218,743 shares in the last quarter. Weiss Asset Management LP purchased a new stake in QuantumScape in the 3rd quarter valued at about $828,000. Finally, Nisa Investment Advisors LLC grew its stake in QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company's stock worth $776,000 after acquiring an additional 133,000 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

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.