QuantumScape (NYSE:QS) Trading Down 5.5% - What's Next?

QuantumScape Co. (NYSE:QS - Get Free Report) traded down 5.5% on Wednesday . The company traded as low as $5.14 and last traded at $5.19. 17,812,332 shares changed hands during trading, an increase of 84% from the average session volume of 9,691,576 shares. The stock had previously closed at $5.49.

Analysts Set New Price Targets

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

QuantumScape Price Performance

The stock has a 50 day moving average of $5.18 and a 200-day moving average of $5.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a market cap of $2.66 billion, a PE ratio of -5.46 and a beta of 4.50.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the business earned ($0.23) earnings per share. Equities analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Kevin Hettrich sold 34,607 shares of the business's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $5,890,890.78. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of the firm's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the sale, the director now owns 2,590,583 shares in the company, valued at approximately $14,325,923.99. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 763,337 shares of company stock worth $4,156,865. 12.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently modified their holdings of QS. Canada Pension Plan Investment Board acquired a new stake in QuantumScape in the 2nd quarter valued at $1,950,000. American Century Companies Inc. raised its position in shares of QuantumScape by 880.6% during the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company's stock worth $1,733,000 after purchasing an additional 316,361 shares during the last quarter. Geode Capital Management LLC lifted its stake in QuantumScape by 3.9% in 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 acquired a new stake in QuantumScape in the 3rd quarter worth about $828,000. Finally, Nisa Investment Advisors LLC increased its stake in QuantumScape by 6,650.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company's stock worth $776,000 after buying an additional 133,000 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other 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.