QuantumScape (NYSE:QS) Shares Gap Down to $25.63

QuantumScape Co. (NYSE:QS)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $25.63, but opened at $24.61. QuantumScape shares last traded at $24.37, with a volume of 57,940 shares traded.

Separately, JPMorgan Chase & Co. started coverage on QuantumScape in a research report on Tuesday, July 20th. They issued a “neutral” rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.14.

The company has a debt-to-equity ratio of 0.03, a current ratio of 62.45 and a quick ratio of 62.45. The business has a 50 day simple moving average of $22.60 and a 200 day simple moving average of $27.01. The company has a market capitalization of $9.50 billion and a price-to-earnings ratio of -62.05.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Monday, October 25th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). During the same quarter last year, the business posted ($1.57) earnings per share. On average, equities research analysts predict that QuantumScape Co. will post -0.21 EPS for the current year.

In other QuantumScape news, Director Justin E. Mirro sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $22.17, for a total value of $443,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Fritz Prinz sold 300,000 shares of the firm’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $22.74, for a total value of $6,822,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,619,507 shares of company stock worth $36,254,532.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC grew its holdings in shares of QuantumScape by 116.7% during the second quarter. Clearstead Advisors LLC now owns 1,040 shares of the company’s stock worth $30,000 after buying an additional 560 shares during the last quarter. StoneX Group Inc. grew its holdings in shares of QuantumScape by 5.8% during the second quarter. StoneX Group Inc. now owns 11,508 shares of the company’s stock worth $337,000 after buying an additional 629 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of QuantumScape during the first quarter worth about $30,000. Ameritas Investment Company LLC purchased a new position in shares of QuantumScape during the first quarter worth about $40,000. Finally, Financial Advocates Investment Management lifted its position in QuantumScape by 13.9% in the second quarter. Financial Advocates Investment Management now owns 7,649 shares of the company’s stock valued at $223,000 after purchasing an additional 933 shares during the period. 15.67% of the stock is currently owned by hedge funds and other institutional investors.

About QuantumScape (NYSE:QS)

QuantumScape Corporation, a development stage company, engages in 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.

See Also: What is a Call Option?

Receive News & Ratings for QuantumScape Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuantumScape and related companies with MarketBeat.com's FREE daily email newsletter.