QuantumScape (NYSE:QS) Stock Price Down 3.4% - Here's Why

QuantumScape Co. (NYSE:QS - Get Free Report) traded down 3.4% on Tuesday . The company traded as low as $5.09 and last traded at $5.17. 3,614,746 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 8,874,789 shares. The stock had previously closed at $5.35.

Wall Street Analyst Weigh In

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

QuantumScape Stock Performance

The stock has a fifty day moving average price of $5.40 and a 200 day moving average price of $5.74. 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 firm has a market cap of $2.64 billion, a price-to-earnings ratio of -5.44 and a beta of 4.60.

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

Insider Activity

In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the sale, the director now owns 2,590,583 shares of the company's stock, valued at $15,517,592.17. This represents a 6.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now owns 241,195 shares of the company's stock, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 702,057 shares of company stock worth $3,982,909. Company insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

Institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its position in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company's stock valued at $28,000 after buying an additional 2,148 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company's stock valued at $29,000 after acquiring an additional 4,228 shares in the last quarter. CWM LLC increased its position in shares of QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company's stock valued at $35,000 after acquiring an additional 2,556 shares during the last quarter. Mather Group LLC. bought a new stake in QuantumScape during the second quarter worth about $36,000. Finally, Alaska Wealth Advisors acquired a new position in QuantumScape during the second quarter valued at approximately $49,000. 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.

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