QuantumScape (NYSE:QS) Trading Down 1% – Should You Sell?

QuantumScape Co. (NYSE:QS)’s stock price traded down 1% during mid-day trading on Wednesday . The stock traded as low as $4.93 and last traded at $4.96. 3,045,560 shares were traded during trading, a decline of 66% from the average session volume of 8,861,231 shares. The stock had previously closed at $5.01.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QS. Wolfe Research initiated coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Finally, 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. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Down 2.2 %

The company has a market cap of $2.51 billion, a P/E ratio of -5.16 and a beta of 4.50. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $5.32 and its 200 day moving average is $5.71.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the firm earned ($0.23) EPS. As a group, equities analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the completion of the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $15,517,592.17. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jurgen Leohold sold 17,435 shares of QuantumScape stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.00, for a total transaction of $104,610.00. Following the sale, the director now owns 194,904 shares in the company, valued at $1,169,424. This represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 702,057 shares of company stock worth $3,982,909. Insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new position in shares of QuantumScape in the 2nd quarter valued at $1,950,000. American Century Companies Inc. grew its holdings in QuantumScape by 880.6% during the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares in the last quarter. Geode Capital Management LLC grew its holdings in QuantumScape by 3.9% during 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 in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in QuantumScape during the 1st quarter worth $1,002,000. Finally, Weiss Asset Management LP acquired a new position in shares of QuantumScape in the 3rd quarter valued at about $828,000. 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.