QuantumScape (NYSE:QS) Stock Price Down 3.7% – Time to Sell?

QuantumScape Corporation (NYSE:QS) shares traded down 3.7% on Tuesday . The stock traded as low as $7.55 and last traded at $7.64. 4,407,003 shares were traded during mid-day trading, a decline of 82% from the average session volume of 23,832,236 shares. The stock had previously closed at $7.93.

Wall Street Analysts Forecast Growth

QS has been the subject of a number of research analyst reports. TD Cowen raised shares of QuantumScape to a “hold” rating in a report on Monday, July 7th. Robert W. Baird raised their price target on shares of QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape currently has an average rating of “Reduce” and an average target price of $5.90.

QuantumScape Stock Performance

The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of -9.01 and a beta of 4.42. The stock’s 50 day moving average is $8.96 and its 200 day moving average is $5.89. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same quarter last year, the firm posted ($0.25) earnings per share. On average, analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Activity

In other QuantumScape news, insider Mohit Singh sold 465,000 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the sale, the insider directly owned 1,641,711 shares of the company’s stock, valued at $13,478,447.31. This trade represents a 22.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael O. Mccarthy III sold 500,000 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the sale, the insider directly owned 1,467,183 shares in the company, valued at $17,019,322.80. This represents a 25.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,956,517 shares of company stock valued at $34,977,013 over the last quarter. 5.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its position in shares of QuantumScape by 2,086.1% in the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after acquiring an additional 5,841 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of QuantumScape by 685.5% in the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock worth $25,000 after acquiring an additional 3,311 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of QuantumScape in the fourth quarter worth approximately $26,000. Federated Hermes Inc. boosted its position in shares of QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after acquiring an additional 5,438 shares during the last quarter. Finally, Hollencrest Capital Management boosted its position in shares of QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock worth $27,000 after acquiring an additional 5,000 shares during 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.