QuantumScape (NYSE:QS) Shares Gap Down - What's Next?

QuantumScape Co. (NYSE:QS - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $6.29, but opened at $6.05. QuantumScape shares last traded at $5.81, with a volume of 4,934,031 shares changing hands.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Hsbc Global Res upgraded QuantumScape to a "hold" rating in a research note on Tuesday, November 19th. HSBC raised QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price target on the stock in a research note on Tuesday, November 19th. Finally, Truist Financial reiterated 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. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, QuantumScape has an average rating of "Hold" and an average target price of $6.26.

QuantumScape Stock Down 9.1 %

The firm has a market cap of $2.93 billion, a P/E ratio of -6.02 and a beta of 4.46. The firm's 50-day moving average price is $5.20 and its 200 day moving average price is $5.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings data 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 in the previous year, the business earned ($0.23) EPS. On average, equities research analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape 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 completion of the sale, the director now directly owns 2,590,583 shares in the company, valued at $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the company's stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the sale, 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. Over the last quarter, insiders sold 536,460 shares of company stock worth $2,903,619. Insiders own 12.03% of the company's stock.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in QuantumScape by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company's stock worth $4,579,000 after purchasing an additional 11,897 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in QuantumScape by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 367,887 shares of the company's stock worth $1,810,000 after acquiring an additional 9,290 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in QuantumScape during the 2nd quarter worth about $61,000. Arizona State Retirement System grew its stake in QuantumScape by 4.6% during the 2nd quarter. Arizona State Retirement System now owns 98,800 shares of the company's stock valued at $486,000 after acquiring an additional 4,330 shares in the last quarter. Finally, Ground Swell Capital LLC purchased a new stake in shares of QuantumScape in the second quarter worth approximately $95,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.