QuantumScape (NYSE:QS) Trading Down 0.9% – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s stock price was down 0.9% during mid-day trading on Tuesday . The company traded as low as $6.30 and last traded at $6.52. Approximately 11,835,812 shares traded hands during trading, a decline of 47% from the average daily volume of 22,245,848 shares. The stock had previously closed at $6.58.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Truist Financial reaffirmed 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. Finally, HSBC upgraded 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. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.26.

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’s 50 day moving average price is $5.18 and its 200 day moving average price is $5.67. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -6.78 and a beta of 4.46.

QuantumScape (NYSE:QS) last announced its quarterly earnings results 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 quarter last year, the business earned ($0.23) earnings per share. Analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Transactions at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total transaction of $65,056.32. Following the completion of the transaction, the director now owns 241,195 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jagdeep Singh sold 308,097 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the transaction, the director now owns 2,563,767 shares of the company’s stock, valued at $13,587,965.10. This trade represents a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 571,067 shares of company stock valued at $3,093,612. Company insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of QS. Signaturefd LLC raised its position in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares during the last quarter. International Assets Investment Management LLC grew its position in QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares in the last quarter. Atom Investors LP purchased a new position in QuantumScape in the third quarter worth $60,000. Centaurus Financial Inc. purchased a new stake in QuantumScape during the second quarter worth about $52,000. Finally, Nwam LLC purchased a new position in QuantumScape in the third quarter valued at about $64,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.