QuantumScape (NYSE:QS) Hits New 52-Week Low on Analyst Downgrade

Shares of QuantumScape Co. (NYSE:QS) reached a new 52-week low during trading on Thursday after UBS Group lowered their price target on the stock from $9.00 to $5.00. UBS Group currently has a neutral rating on the stock. QuantumScape traded as low as $4.97 and last traded at $5.04, with a volume of 4395625 shares traded. The stock had previously closed at $5.48.

Several other analysts have also issued reports on QS. Robert W. Baird increased their price objective on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Truist Financial cut their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.30.

Insider Buying and Selling at QuantumScape

In related news, Director Jeffrey B. Straubel sold 69,309 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the completion of the sale, the director now directly owns 292,644 shares in the company, valued at approximately $1,966,567.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total transaction of $226,329.78. Following the completion of the sale, the chief financial officer now directly owns 554,553 shares in the company, valued at $3,626,776.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the completion of the transaction, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The disclosure for this sale can be found here. Insiders have sold a total of 194,970 shares of company stock worth $1,250,775 over the last three months. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Several hedge funds have recently added to or reduced their stakes in QS. Spire Wealth Management increased its holdings in shares of QuantumScape by 39.0% during the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares during the period. International Assets Investment Management LLC increased its stake in QuantumScape by 595.1% during the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after acquiring an additional 5,296 shares during the period. C M Bidwell & Associates Ltd. raised its holdings in QuantumScape by 37.3% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock valued at $45,000 after acquiring an additional 1,835 shares in the last quarter. CWM LLC lifted its position in shares of QuantumScape by 31.1% in the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after acquiring an additional 1,794 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of QuantumScape by 57.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock worth $56,000 after purchasing an additional 2,954 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.

QuantumScape Trading Down 7.0 %

The business has a 50-day moving average price of $5.96 and a 200-day moving average price of $6.42. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.53 billion, a P/E ratio of -5.31 and a beta of 4.76.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the previous year, the company earned ($0.25) EPS. Analysts anticipate that QuantumScape Co. will post -0.96 earnings per share for the current year.

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.