QuantumScape (NYSE:QS) Stock Price Down 2% - Here's Why

Shares of QuantumScape Co. (NYSE:QS - Get Free Report) fell 2% during mid-day trading on Monday . The company traded as low as $4.88 and last traded at $4.92. 3,519,866 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 8,750,395 shares. The stock had previously closed at $5.02.

Wall Street Analyst Weigh In

Several analysts have commented on QS shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research started coverage on QuantumScape in a report on Thursday, September 5th. They set an "underperform" rating on the stock. Finally, Truist Financial reaffirmed 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. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $6.14.

QuantumScape Price Performance

The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $5.55 and a two-hundred day moving average price of $5.78. The firm has a market cap of $2.57 billion, a P/E ratio of -5.18 and a beta of 4.60.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results 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 in the previous year, the company earned ($0.23) EPS. Equities analysts anticipate that QuantumScape Co. will post -0.97 earnings per share for the current year.

Insider Activity at QuantumScape

In other news, CTO Timothy Holme sold 44,306 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total transaction of $270,709.66. Following the completion of the sale, the chief technology officer now owns 1,168,496 shares in the company, valued at $7,139,510.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QuantumScape news, CTO Timothy Holme sold 44,306 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total transaction of $270,709.66. Following the sale, the chief technology officer now directly owns 1,168,496 shares in the company, valued at $7,139,510.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jurgen Leohold sold 17,435 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.00, for a total transaction of $104,610.00. Following the sale, the director now directly owns 194,904 shares of the company's stock, valued at approximately $1,169,424. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 711,321 shares of company stock worth $4,138,097. Insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors have recently modified their holdings of QS. Vanguard Group Inc. boosted its position in QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company's stock valued at $191,750,000 after buying an additional 656,646 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in QuantumScape in the 2nd quarter worth about $1,950,000. American Century Companies Inc. raised its position in QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company's stock valued at $1,733,000 after purchasing an additional 316,361 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of QuantumScape during the first quarter valued at about $1,002,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company's stock valued at $776,000 after purchasing an additional 133,000 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company's stock.

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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