QuantumScape (NYSE:QS) Trading Down 2.2%

QuantumScape Co. (NYSE:QS) dropped 2.2% on Tuesday . The company traded as low as $5.66 and last traded at $5.70. Approximately 944,231 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 9,019,479 shares. The stock had previously closed at $5.83.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price target on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Truist Financial decreased their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Finally, UBS Group dropped their price target on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.09.

QuantumScape Stock Performance

The company has a market capitalization of $2.79 billion, a PE ratio of -5.94 and a beta of 4.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38. The business’s 50-day moving average is $5.84 and its 200-day moving average is $6.39.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period in the previous year, the firm earned ($0.25) earnings per share. On average, research analysts anticipate that QuantumScape Co. will post -0.9 earnings per share for the current year.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the transaction, the chief financial officer now owns 554,553 shares of the company’s stock, valued at approximately $3,626,776.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the completion of the sale, the insider now owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the transaction, the chief financial officer now directly owns 554,553 shares in the company, valued at approximately $3,626,776.62. The disclosure for this sale can be found here. Insiders sold a total of 125,661 shares of company stock worth $785,018 in the last three months. Insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in QuantumScape by 23.3% in the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after buying an additional 5,483,319 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in QuantumScape by 240.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after acquiring an additional 3,004,964 shares in the last quarter. Norges Bank bought a new stake in QuantumScape during the 4th quarter worth approximately $18,482,000. Baillie Gifford & Co. boosted its position in shares of QuantumScape by 53.6% in the third quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock worth $17,268,000 after purchasing an additional 900,249 shares during the period. Finally, Trexquant Investment LP purchased a new stake in shares of QuantumScape in the fourth quarter worth $1,560,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.