QuantumScape (NYSE:QS) Stock Price Down 2.7%

QuantumScape Co. (NYSE:QS) shares were down 2.7% on Wednesday . The company traded as low as $5.34 and last traded at $5.43. Approximately 1,244,525 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 8,966,295 shares. The stock had previously closed at $5.58.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on QS shares. UBS Group cut their price target on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Truist Financial decreased their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Finally, Robert W. Baird boosted their price target on shares of QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.09.

QuantumScape Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38. The company has a 50 day moving average of $5.82 and a 200 day moving average of $6.39. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -5.63 and a beta of 4.74.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period in the previous year, the firm posted ($0.25) earnings per share. On average, research analysts predict that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total value of $212,486.98. Following the transaction, the chief financial officer now directly owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michael O. Mccarthy III sold 21,840 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the completion of the sale, the insider now directly owns 731,629 shares of the company’s stock, valued at approximately $4,514,150.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the completion of the transaction, the chief financial officer now directly owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The disclosure for this sale can be found here. Insiders have sold a total of 125,661 shares of company stock worth $785,018 in the last quarter. Company insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors have recently made changes to their positions in QS. Vanguard Group Inc. lifted its position in shares of QuantumScape by 23.3% during the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after purchasing an additional 5,483,319 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in QuantumScape by 240.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after buying an additional 3,004,964 shares during the period. Norges Bank acquired a new position in shares of QuantumScape in the fourth quarter worth $18,482,000. Baillie Gifford & Co. increased its position in shares of QuantumScape by 53.6% during the third quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock worth $17,268,000 after acquiring an additional 900,249 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of QuantumScape in the fourth quarter valued at $1,560,000. 29.87% of the stock is currently 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.