QuantumScape (NYSE:QS) Stock Price Down 4% - What's Next?

QuantumScape Co. (NYSE:QS - Get Free Report)'s share price dropped 4% during mid-day trading on Tuesday . The stock traded as low as $4.93 and last traded at $4.99. Approximately 2,666,047 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 8,860,672 shares. The stock had previously closed at $5.20.

Analysts Set New Price Targets

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

QuantumScape Price Performance

The firm's 50 day moving average is $5.35 and its two-hundred day moving average is $5.72. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

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

Insiders Place Their Bets

In other news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the sale, the director now owns 241,195 shares in the company, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jagdeep Singh sold 5,531 shares of QuantumScape 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 sale, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 702,057 shares of company stock worth $3,982,909 over the last three months. 12.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company's stock worth $34,031,000 after purchasing an additional 87,563 shares during the period. Geode Capital Management LLC boosted its stake in QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company's stock valued at $33,671,000 after acquiring an additional 218,743 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of QuantumScape by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company's stock valued at $12,806,000 after purchasing an additional 93,826 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of QuantumScape by 8.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company's stock worth $6,785,000 after purchasing an additional 94,103 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of QuantumScape by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company's stock worth $4,579,000 after purchasing an additional 11,897 shares during the last quarter. 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.

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