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

QuantumScape Co. (NYSE:QS - Get Free Report) shares fell 2% during trading on Monday . The stock traded as low as $4.98 and last traded at $5.06. 3,919,529 shares were traded during trading, a decline of 77% from the average session volume of 17,209,998 shares. The stock had previously closed at $5.16.

Wall Street Analysts Forecast Growth

QS has been the subject of a number of research analyst reports. Hsbc Global Res raised QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. HSBC upgraded QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Finally, Truist Financial reiterated a "hold" rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $6.26.

QuantumScape Trading Down 0.5 %

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 stock has a market capitalization of $2.65 billion, a P/E ratio of -5.45 and a beta of 4.46. The company has a 50-day moving average price of $5.29 and a 200 day moving average price of $5.61.

Insiders Place Their Bets

In related news, Director Jagdeep Singh sold 5,531 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the transaction, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. The trade was a 0.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mohit Singh sold 97,305 shares of the firm's stock in a transaction that occurred on 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 owns 1,092,020 shares of the company's stock, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 573,409 shares of company stock worth $3,090,581. 12.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QS. Nisa Investment Advisors LLC grew 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 worth $776,000 after acquiring an additional 133,000 shares during the last quarter. Geode Capital Management LLC grew its position in QuantumScape by 3.9% during the 3rd 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 during the last quarter. Weiss Asset Management LP acquired a new position in QuantumScape during the 3rd quarter valued at approximately $828,000. Sanctuary Advisors LLC acquired a new position in QuantumScape during the 2nd quarter valued at approximately $680,000. Finally, SG Americas Securities LLC lifted its stake in shares of QuantumScape by 127.0% during the fourth quarter. SG Americas Securities LLC now owns 204,630 shares of the company's stock worth $1,062,000 after buying an additional 114,504 shares during the period. 29.87% of the stock is owned by institutional investors and hedge funds.

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.