QuantumScape (NYSE:QS) Shares Down 0.5% – Here’s What Happened

QuantumScape Co. (NYSE:QS) shares were down 0.5% on Thursday . The stock traded as low as $4.97 and last traded at $5.01. Approximately 4,191,712 shares traded hands during trading, a decline of 77% from the average daily volume of 18,150,969 shares. The stock had previously closed at $5.03.

Analysts Set New Price Targets

Several research analysts recently weighed in on QS shares. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research note on Tuesday, November 19th. 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 equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Up 1.9 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The business’s 50 day moving average price is $5.26 and its 200-day moving average price is $5.70. The firm has a market capitalization of $2.63 billion, a PE ratio of -5.39 and a beta of 4.46.

QuantumScape (NYSE:QS) last issued 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 period last year, the business earned ($0.23) EPS. As a group, equities research analysts forecast that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Transactions at QuantumScape

In related news, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now directly owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This represents a 8.18 % 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, Director Jagdeep Singh sold 308,097 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the sale, the director now directly owns 2,563,767 shares in the company, valued at approximately $13,587,965.10. The trade was a 10.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 536,460 shares of company stock valued at $2,903,619. 12.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QS. American Century Companies Inc. grew its position in shares of QuantumScape by 880.6% during the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock worth $1,733,000 after acquiring an additional 316,361 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in QuantumScape during the 2nd quarter worth $68,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of QuantumScape by 41.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,877 shares of the company’s stock valued at $127,000 after buying an additional 7,624 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of QuantumScape by 36.0% during the second quarter. Hsbc Holdings PLC now owns 16,737 shares of the company’s stock worth $82,000 after buying an additional 4,433 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of QuantumScape during the second quarter worth about $1,950,000. 29.87% of the stock is 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.