QuantumScape (NYSE:QS) Shares Down 1.1% – Should You Sell?

QuantumScape Co. (NYSE:QS)’s share price traded down 1.1% during trading on Wednesday . The company traded as low as $5.02 and last traded at $5.07. 4,135,728 shares traded hands during trading, a decline of 78% from the average session volume of 18,626,908 shares. The stock had previously closed at $5.12.

Wall Street Analyst Weigh In

QS has been the topic of a number of recent research reports. Truist Financial restated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Finally, HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, QuantumScape presently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Down 0.1 %

The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -5.43 and a beta of 4.46. The firm’s 50-day moving average is $5.27 and its 200 day moving average is $5.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the business posted ($0.23) earnings per share. Sell-side analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the transaction, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. The trade was a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 536,460 shares of company stock worth $2,903,619. 12.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after buying an additional 133,000 shares in the last quarter. Geode Capital Management LLC grew its stake in QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in QuantumScape during the 2nd quarter worth approximately $1,950,000. Weiss Asset Management LP acquired a new position in shares of QuantumScape in the 3rd quarter valued at approximately $828,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of QuantumScape during the 2nd quarter valued at approximately $680,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Company Profile

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.