QuantumScape (NYSE:QS) Trading Down 3% - Here's What Happened

QuantumScape Co. (NYSE:QS - Get Free Report) shares were down 3% during mid-day trading on Monday . The company traded as low as $4.92 and last traded at $5.02. Approximately 6,219,611 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 15,920,391 shares. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. HSBC raised QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th. Hsbc Global Res upgraded shares of QuantumScape to a "hold" rating in a report on Tuesday, November 19th. Finally, Truist Financial restated a "hold" rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $6.26.

QuantumScape Trading Up 0.5 %

The firm has a market cap of $2.57 billion, a P/E ratio of -5.28 and a beta of 4.45. The company's fifty day moving average price is $5.27 and its two-hundred day moving average price is $5.54. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

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 shares were 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 owns 2,590,583 shares of the company's stock, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mohit Singh sold 97,305 shares of the firm's stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the sale, the insider now directly owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 573,409 shares of company stock worth $3,090,581. Corporate insiders own 12.03% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in QS. Sei Investments Co. lifted its stake in QuantumScape by 80.8% in the second quarter. Sei Investments Co. now owns 20,533 shares of the company's stock valued at $101,000 after acquiring an additional 9,176 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in QuantumScape by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company's stock worth $413,000 after acquiring an additional 3,527 shares during the period. Algert Global LLC acquired a new stake in shares of QuantumScape during the 2nd quarter worth approximately $175,000. Sanctuary Advisors LLC bought a new position in shares of QuantumScape in the 2nd quarter valued at $680,000. Finally, Handelsbanken Fonder AB raised its stake in QuantumScape by 26.3% during the third quarter. Handelsbanken Fonder AB now owns 112,400 shares of the company's stock worth $646,000 after acquiring an additional 23,400 shares in the last quarter. Institutional investors 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.