QuantumScape (NYSE:QS) Stock Price Down 8.6% – Time to Sell?

Shares of QuantumScape Co. (NYSE:QS) fell 8.6% during trading on Wednesday . The company traded as low as $5.67 and last traded at $5.75. 12,385,883 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 22,383,760 shares. The stock had previously closed at $6.29.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on QS shares. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, QuantumScape presently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Price Performance

The company’s 50 day simple moving average is $5.20 and its two-hundred day simple moving average is $5.68. The stock has a market capitalization of $2.92 billion, a P/E ratio of -5.99 and a beta of 4.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the company earned ($0.23) EPS. As a group, equities analysts expect that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In related news, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kevin Hettrich sold 55,647 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.05, for a total value of $281,017.35. Following the transaction, the chief financial officer now owns 1,022,743 shares in the company, valued at approximately $5,164,852.15. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 536,460 shares of company stock worth $2,903,619. Insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

A number of hedge funds have recently modified their holdings of QS. Sanctuary Advisors LLC boosted its position in QuantumScape by 28.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after acquiring an additional 35,579 shares during the last quarter. Virtu Financial LLC bought a new position in shares of QuantumScape during the third quarter worth approximately $235,000. Barclays PLC boosted its position in shares of QuantumScape by 326.5% in the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock valued at $599,000 after acquiring an additional 79,871 shares during the period. Geode Capital Management LLC grew its position in shares of QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after purchasing an additional 218,743 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in QuantumScape by 139.2% in the 3rd quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after acquiring an additional 26,820 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.