QuantumScape (NYSE:QS) Stock Price Down 3.9% Following Analyst Downgrade

QuantumScape Co. (NYSE:QS - Get Free Report) shares fell 3.9% during trading on Thursday after Robert W. Baird lowered their price target on the stock from $8.00 to $6.00. Robert W. Baird currently has a neutral rating on the stock. QuantumScape traded as low as $3.85 and last traded at $3.83. 4,376,232 shares traded hands during trading, a decline of 59% from the average session volume of 10,683,740 shares. The stock had previously closed at $3.98.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group lowered their price objective on shares of QuantumScape from $4.00 to $3.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. UBS Group downgraded shares of QuantumScape from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Truist Financial cut their price objective on QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Finally, Evercore ISI reaffirmed a "hold" rating on shares of QuantumScape in a report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $5.26.

Insider Buying and Selling at QuantumScape

In other news, insider Michael O. Mccarthy III sold 76,315 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the completion of the sale, the insider now directly owns 1,010,523 shares in the company, valued at $5,285,035.29. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin Hettrich sold 53,975 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $282,289.25. Following the completion of the transaction, the chief financial officer now owns 930,800 shares in the company, valued at approximately $4,868,084. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,147 shares of company stock worth $935,758. Insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC boosted its stake in QuantumScape by 326.5% during the third quarter. Barclays PLC now owns 104,333 shares of the company's stock worth $599,000 after acquiring an additional 79,871 shares in the last quarter. Virtu Financial LLC bought a new position in shares of QuantumScape during the 3rd quarter worth about $235,000. 180 Wealth Advisors LLC grew its stake in shares of QuantumScape by 13.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 112,168 shares of the company's stock valued at $582,000 after buying an additional 13,177 shares during the period. Guardian Investment Management increased its position in QuantumScape by 158.6% in the 4th quarter. Guardian Investment Management now owns 12,490 shares of the company's stock valued at $65,000 after buying an additional 7,660 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in QuantumScape by 127.0% during the 4th 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 currently owned by institutional investors.

QuantumScape Trading Down 0.5 %

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 firm has a fifty day simple moving average of $4.26 and a 200-day simple moving average of $4.91. The firm has a market cap of $2.15 billion, a P/E ratio of -4.19 and a beta of 4.37.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). During the same quarter last year, the company posted ($0.24) earnings per share. On average, equities research analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current year.

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.