QuantumScape (NYSE:QS) Stock Price Down 2.5% – What’s Next?

QuantumScape Corporation (NYSE:QS)’s stock price traded down 2.5% on Tuesday . The stock traded as low as $15.28 and last traded at $15.88. 35,953,517 shares changed hands during trading, an increase of 22% from the average session volume of 29,389,490 shares. The stock had previously closed at $16.28.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the company a “hold” rating in a research note on Thursday, October 23rd. Robert W. Baird boosted their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Cowen reiterated a “hold” rating on shares of QuantumScape in a research report on Thursday, October 30th. TD Cowen lifted their target price on shares of QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $7.66.

QuantumScape Trading Down 2.5%

The company has a market capitalization of $9.55 billion, a P/E ratio of -19.60 and a beta of 4.83. The company has a fifty day simple moving average of $13.63 and a two-hundred day simple moving average of $9.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of ($36.67) million during the quarter. During the same period in the prior year, the business posted ($0.23) EPS. On average, analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other news, insider Mohit Singh sold 220,000 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $15.09, for a total transaction of $3,319,800.00. Following the completion of the transaction, the insider directly owned 1,420,054 shares in the company, valued at $21,428,614.86. The trade was a 13.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael O. Mccarthy III sold 50,000 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $15.78, for a total transaction of $789,000.00. Following the transaction, the insider directly owned 1,376,118 shares in the company, valued at $21,715,142.04. This trade represents a 3.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,001,305 shares of company stock worth $44,058,829. Insiders own 5.48% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock valued at $19,799,000 after buying an additional 3,904,168 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock valued at $147,064,000 after purchasing an additional 2,911,362 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of QuantumScape by 2,036.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company’s stock valued at $16,483,000 after purchasing an additional 2,338,038 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of QuantumScape by 1,005.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company’s stock worth $13,323,000 after purchasing an additional 1,803,196 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of QuantumScape by 148.0% during the 2nd quarter. Bank of America Corp DE now owns 2,803,989 shares of the company’s stock worth $18,843,000 after purchasing an additional 1,673,472 shares in the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.

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.