QuantumScape (NYSE:QS) Shares Down 5.2% - Here's Why

QuantumScape Co. (NYSE:QS - Get Free Report) shares traded down 5.2% on Monday . The company traded as low as $5.26 and last traded at $5.32. 8,749,004 shares traded hands during trading, a decline of 59% from the average session volume of 21,090,879 shares. The stock had previously closed at $5.61.

Wall Street Analyst Weigh In

QS has been the subject of several recent research reports. Truist Financial reissued a "hold" rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Hsbc Global Res upgraded shares of QuantumScape to a "hold" rating in a report on Tuesday, November 19th. Finally, HSBC raised QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, QuantumScape has a consensus rating of "Hold" and an average price target of $6.26.

QuantumScape Price Performance

The company has a 50 day simple moving average of $5.23 and a 200 day simple moving average of $5.70. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -5.57 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 posted 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 period in the previous year, the business earned ($0.23) EPS. As a group, research analysts predict that QuantumScape Co. will post -0.99 EPS for the current year.

Insider Activity at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 5,531 shares of the firm'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 transaction of $27,710.31. Following the completion of the sale, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. This trade represents a 0.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the transaction, the director now owns 241,195 shares of the company's stock, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 536,460 shares of company stock worth $2,903,619. 12.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in QS. Signaturefd LLC boosted its holdings in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company's stock worth $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC lifted its position in shares of QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company's stock worth $29,000 after buying an additional 4,228 shares during the last quarter. Centaurus Financial Inc. acquired a new position in shares of QuantumScape in the 2nd quarter valued at about $52,000. Atom Investors LP acquired a new stake in QuantumScape during the third quarter worth about $60,000. Finally, Nwam LLC bought a new position in QuantumScape in the third quarter worth about $64,000. Institutional investors and hedge funds own 29.87% of the company's stock.

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.

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