QuantumScape (NYSE:QS) Shares Down 2.7%

Shares of QuantumScape Co. (NYSE:QS) dropped 2.7% during trading on Wednesday . The company traded as low as $5.34 and last traded at $5.43. Approximately 1,244,525 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 8,966,295 shares. The stock had previously closed at $5.58.

Wall Street Analysts Forecast Growth

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

QuantumScape Trading Down 2.5 %

The stock has a 50-day simple moving average of $5.82 and a two-hundred day simple moving average of $6.39. 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 firm has a market cap of $2.72 billion, a PE ratio of -5.63 and a beta of 4.74.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the previous year, the firm earned ($0.25) EPS. As a group, sell-side analysts anticipate that QuantumScape Co. will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $6.11, for a total transaction of $211,448.77. Following the completion of the sale, the chief financial officer now directly owns 556,302 shares of the company’s stock, valued at $3,399,005.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $6.11, for a total value of $211,448.77. Following the transaction, the chief financial officer now owns 556,302 shares of the company’s stock, valued at $3,399,005.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,661 shares of company stock valued at $785,018. Insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Spire Wealth Management boosted its position in shares of QuantumScape by 39.0% during the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares during the last quarter. International Assets Investment Management LLC lifted its position in QuantumScape by 595.1% during the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after purchasing an additional 5,296 shares during the last quarter. C M Bidwell & Associates Ltd. grew its stake in shares of QuantumScape by 37.3% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after buying an additional 1,835 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of QuantumScape by 57.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock worth $56,000 after buying an additional 2,954 shares during the last quarter. Finally, StepStone Group LP purchased a new stake in shares of QuantumScape during the 4th quarter valued at about $56,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.