QuantumScape (NYSE:QS) Stock Price Down 0.6% - Here's What Happened

QuantumScape Co. (NYSE:QS - Get Free Report)'s stock price dropped 0.6% on Friday . The stock traded as low as $4.77 and last traded at $4.82. Approximately 2,227,799 shares were traded during trading, a decline of 75% from the average daily volume of 8,819,386 shares. The stock had previously closed at $4.85.

Analyst Ratings Changes

QS has been the topic of several research reports. Truist Financial restated a "hold" rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Wolfe Research began coverage on QuantumScape in a report on Thursday, September 5th. They set an "underperform" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $6.14.

QuantumScape Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The stock has a fifty day simple moving average of $5.50 and a two-hundred day simple moving average of $5.76. The firm has a market capitalization of $2.45 billion, a P/E ratio of -5.06 and a beta of 4.60.

QuantumScape (NYSE:QS - Get Free Report) last issued 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 prior year, the company posted ($0.23) earnings per share. On average, research analysts predict that QuantumScape Co. will post -0.97 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kevin Hettrich sold 58,000 shares of QuantumScape stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total value of $335,240.00. Following the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at approximately $6,202,067.16. The trade was a 5.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael O. Mccarthy III sold 50,575 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.99, for a total transaction of $302,944.25. Following the sale, the insider now owns 1,184,745 shares of the company's stock, valued at $7,096,622.55. This represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 708,455 shares of company stock valued at $4,121,274. Insiders own 12.03% of the company's stock.

Institutional Trading of QuantumScape

A number of hedge funds and other institutional investors have recently modified their holdings of QS. SG Americas Securities LLC raised its position in shares of QuantumScape by 11.7% during the 1st quarter. SG Americas Securities LLC now owns 75,158 shares of the company's stock valued at $473,000 after purchasing an additional 7,879 shares during the period. Swiss National Bank boosted its position in shares of QuantumScape by 9.3% during the first quarter. Swiss National Bank now owns 678,800 shares of the company's stock valued at $4,270,000 after buying an additional 58,000 shares during the period. Entropy Technologies LP bought a new position in QuantumScape in the 1st quarter valued at $92,000. HBK Sorce Advisory LLC increased its position in shares of QuantumScape by 23.1% during the first quarter. HBK Sorce Advisory LLC now owns 26,537 shares of the company's stock worth $167,000 after acquiring an additional 4,986 shares during the period. Finally, Resolute Advisors LLC purchased a new stake in shares of QuantumScape in the 1st quarter worth $189,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.

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