QuantumScape (NYSE:QS) Shares Down 2.4% - Here's What Happened

QuantumScape Co. (NYSE:QS - Get Free Report) shares traded down 2.4% on Tuesday . The company traded as low as $4.89 and last traded at $4.93. 2,449,579 shares changed hands during trading, a decline of 72% from the average session volume of 8,767,718 shares. The stock had previously closed at $5.05.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They set an "underperform" rating for the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, Truist Financial restated a "hold" rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $6.14.

QuantumScape Stock Down 4.3 %

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 business has a 50-day simple moving average of $5.54 and a 200-day simple moving average of $5.78. The stock has a market cap of $2.48 billion, a P/E ratio of -5.19 and a beta of 4.60.

QuantumScape (NYSE:QS - Get Free Report) last released its earnings results 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 quarter in the previous year, the business earned ($0.23) earnings per share. Analysts expect that QuantumScape Co. will post -0.97 EPS for the current year.

Insider Activity at QuantumScape

In related 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 value of $270,709.66. Following the completion of the transaction, the chief technology officer now owns 1,168,496 shares of the company's stock, valued at $7,139,510.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 completion of the sale, the chief technology officer now owns 1,168,496 shares in the company, valued at $7,139,510.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total transaction of $76,931.68. Following the transaction, the director now directly owns 254,103 shares of the company's stock, valued at $1,514,453.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 711,321 shares of company stock worth $4,138,097 over the last three months. Company insiders own 12.03% of the company's stock.

Institutional Investors Weigh In On QuantumScape

A number of large investors have recently bought and sold shares of QS. Nwam LLC bought a new stake in QuantumScape during the 3rd quarter worth about $64,000. Charles Schwab Investment Management Inc. grew its stake in shares of QuantumScape by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company's stock valued at $12,806,000 after purchasing an additional 93,826 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in shares of QuantumScape in the third quarter valued at approximately $80,000. Strategy Asset Managers LLC bought a new position in QuantumScape in the 3rd quarter worth approximately $108,000. Finally, Prospera Financial Services Inc raised its position in QuantumScape by 34.4% in the 3rd quarter. Prospera Financial Services Inc now owns 129,143 shares of the company's stock worth $743,000 after purchasing an additional 33,065 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors.

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.

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