QuantumScape (NYSE:QS) Stock Price Down 3% – Time to Sell?

QuantumScape Co. (NYSE:QS)’s share price traded down 3% during mid-day trading on Thursday . The stock traded as low as $5.14 and last traded at $5.16. 3,688,034 shares were traded during mid-day trading, a decline of 58% from the average session volume of 8,687,094 shares. The stock had previously closed at $5.32.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wolfe Research assumed coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Truist Financial reaffirmed a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, QuantumScape has a consensus rating of “Hold” and a consensus target price of $6.14.

QuantumScape Price Performance

The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -5.43 and a beta of 4.58. The business’s 50-day simple moving average is $5.66 and its two-hundred day simple moving average is $5.80. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the business earned ($0.23) EPS. As a group, research analysts expect that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total transaction of $189,992.43. Following the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Timothy Holme sold 44,306 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total value of $270,709.66. Following the transaction, the chief technology officer now directly owns 1,168,496 shares in the company, valued at $7,139,510.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 903,591 shares of company stock worth $5,195,582. Corporate insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in QuantumScape by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after acquiring an additional 656,646 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in QuantumScape by 240.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after acquiring an additional 3,004,964 shares in the last quarter. Baillie Gifford & Co. lifted its stake in QuantumScape by 10.3% during the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after acquiring an additional 251,186 shares in the last quarter. Janus Henderson Group PLC lifted its stake in QuantumScape by 1.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after acquiring an additional 25,347 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in QuantumScape by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock valued at $4,579,000 after acquiring an additional 11,897 shares in the last quarter. 29.87% of the stock is currently owned by 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.