QuantumScape (NYSE:QS) Stock Price Down 0.2% - Here's What Happened

QuantumScape Co. (NYSE:QS - Get Free Report) shares fell 0.2% during trading on Wednesday . The company traded as low as $5.13 and last traded at $5.15. 2,229,893 shares traded hands during trading, a decline of 75% from the average session volume of 8,870,018 shares. The stock had previously closed at $5.16.

Wall Street Analysts Forecast Growth

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

QuantumScape Price Performance

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 stock has a market cap of $2.67 billion, a P/E ratio of -5.42 and a beta of 4.60. The company's 50 day moving average price is $5.39 and its 200-day moving average price is $5.74.

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

Insider Buying and Selling

In other news, insider Michael O. Mccarthy III sold 27,305 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.07, for a total value of $138,436.35. Following the sale, the insider now owns 1,129,167 shares of the company's stock, valued at approximately $5,724,876.69. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the transaction, the director now directly owns 241,195 shares of the company's stock, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 702,057 shares of company stock valued at $3,982,909 over the last three months. Corporate 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 business. Sanctuary Advisors LLC lifted its position in shares of QuantumScape by 28.2% during the third quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company's stock worth $930,000 after purchasing an additional 35,579 shares during the last quarter. Virtu Financial LLC purchased a new stake in QuantumScape in the 3rd quarter valued at about $235,000. Barclays PLC increased its position in shares of QuantumScape by 326.5% during the third quarter. Barclays PLC now owns 104,333 shares of the company's stock worth $599,000 after acquiring an additional 79,871 shares during the period. Geode Capital Management LLC grew its stake in QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company's stock worth $33,671,000 after purchasing an additional 218,743 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in QuantumScape by 139.2% during the 3rd quarter. M&T Bank Corp now owns 46,090 shares of the company's stock worth $265,000 after acquiring an additional 26,820 shares in the last quarter. 29.87% of the stock is 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.

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