QuantumScape (NYSE:QS) Trading Down 5.1% - What's Next?

QuantumScape Co. (NYSE:QS - Get Free Report) dropped 5.1% during mid-day trading on Thursday . The stock traded as low as $4.78 and last traded at $4.82. Approximately 18,160,939 shares traded hands during trading, an increase of 95% from the average daily volume of 9,328,144 shares. The stock had previously closed at $5.08.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QS. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Wolfe Research initiated coverage on QuantumScape in a research note on Thursday, September 5th. They issued an "underperform" rating for the company. Hsbc Global Res upgraded QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. HSBC upgraded QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Finally, Truist Financial restated a "hold" rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, QuantumScape has an average rating of "Hold" and a consensus price target of $6.26.

QuantumScape Stock Performance

The business has a 50-day moving average price of $5.18 and a 200 day moving average price of $5.65. The stock has a market capitalization of $2.42 billion, a P/E ratio of -4.98 and a beta of 4.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

QuantumScape (NYSE:QS - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period last year, the company earned ($0.23) earnings per share. As a group, sell-side analysts forecast that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, Director Jagdeep Singh sold 5,531 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares of the company's stock, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the transaction, the director now owns 241,195 shares of the company's stock, valued at $1,215,622.80. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 666,032 shares of company stock valued at $3,549,682. 12.03% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Large investors have recently made changes to their positions in the stock. Signaturefd LLC grew its holdings in shares of QuantumScape by 79.9% in the third 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 boosted its position in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company's stock worth $29,000 after purchasing an additional 4,228 shares during the last quarter. CWM LLC grew 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 purchasing an additional 2,556 shares during the period. Centaurus Financial Inc. bought a new stake in shares of QuantumScape during the 2nd quarter valued at about $52,000. Finally, Financial Advocates Investment Management purchased a new stake in shares of QuantumScape during the 2nd quarter valued at about $58,000. 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.