QuantumScape Co. (NYSE:QS - Get Free Report) dropped 8.4% on Monday after an insider sold shares in the company. The stock traded as low as $5.44 and last traded at $5.45. Approximately 8,369,073 shares were traded during trading, a decline of 13% from the average daily volume of 9,607,406 shares. The stock had previously closed at $5.95.
Specifically, insider Mohit Singh sold 97,305 shares of the firm's stock in a transaction on 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 $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Analyst Ratings Changes
A number of research analysts have recently commented on QS shares. Truist Financial reiterated a "hold" rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res raised shares of QuantumScape to a "hold" rating in a report on Tuesday, November 19th. HSBC upgraded shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Wolfe Research initiated coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an "underperform" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of "Hold" and an average price target of $6.26.
Read Our Latest Analysis on QuantumScape
QuantumScape Stock Performance
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 cap of $2.81 billion, a price-to-earnings ratio of -5.78 and a beta of 4.50. The stock's 50 day moving average is $5.18 and its two-hundred day moving average is $5.64.
QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period last year, the business posted ($0.23) EPS. Analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of QS. State Street Corp raised its stake in shares of QuantumScape by 1.5% during 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 last quarter. Geode Capital Management LLC lifted its stake in shares of QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company's stock worth $33,671,000 after acquiring an additional 218,743 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of QuantumScape by 4.4% in 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 acquiring an additional 93,826 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of QuantumScape by 8.7% during the third 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 acquiring an additional 94,103 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in QuantumScape by 1.3% during the second 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 in the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.
About QuantumScape
(
Get Free Report)
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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