QuantumScape (NYSE:QS) Trading Down 4% – What’s Next?

Shares of QuantumScape Corporation (NYSE:QS) dropped 4% on Wednesday . The company traded as low as $12.19 and last traded at $12.4460. Approximately 23,640,025 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 29,396,059 shares. The stock had previously closed at $12.97.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the stock a “hold” rating in a report on Thursday, October 23rd. Cowen reaffirmed a “hold” rating on shares of QuantumScape in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. TD Cowen upped their price target on shares of QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, October 30th. Finally, Robert W. Baird lifted their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $8.31.

QuantumScape Trading Down 4.0%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The company’s 50 day moving average is $14.32 and its 200 day moving average is $9.60. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of -15.37 and a beta of 4.83.

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

Insider Buying and Selling at QuantumScape

In other news, insider Mohit Singh sold 220,000 shares of the business’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 sale, the insider directly owned 1,420,054 shares in the company, valued at approximately $21,428,614.86. The trade was a 13.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael O. Mccarthy III sold 20,435 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $16.12, for a total value of $329,412.20. Following the completion of the transaction, the insider owned 137,888 shares of the company’s stock, valued at $2,222,754.56. The trade was a 12.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,021,740 shares of company stock valued at $44,388,241 over the last quarter. Company insiders own 5.48% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently bought and sold shares of the business. Coldstream Capital Management Inc. raised its stake in shares of QuantumScape by 8.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company’s stock valued at $153,000 after buying an additional 939 shares in the last quarter. Advisory Services Network LLC bought a new stake in QuantumScape in the third quarter valued at about $809,000. Kestra Private Wealth Services LLC raised its position in QuantumScape by 121.4% in the third quarter. Kestra Private Wealth Services LLC now owns 68,706 shares of the company’s stock worth $846,000 after purchasing an additional 37,668 shares in the last quarter. NewEdge Advisors LLC lifted its stake in QuantumScape by 207.3% during the third quarter. NewEdge Advisors LLC now owns 64,343 shares of the company’s stock worth $793,000 after purchasing an additional 43,402 shares during the period. Finally, Verition Fund Management LLC lifted its stake in QuantumScape by 5.3% during the third quarter. Verition Fund Management LLC now owns 606,046 shares of the company’s stock worth $7,466,000 after purchasing an additional 30,298 shares during the period. Institutional investors own 29.87% of the company’s stock.

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.