QuantumScape (NYSE:QS) Stock Price Down 2% – What’s Next?

QuantumScape Co. (NYSE:QS)’s stock price traded down 2% during mid-day trading on Monday . The stock traded as low as $4.98 and last traded at $5.06. 3,919,529 shares changed hands during trading, a decline of 77% from the average session volume of 17,209,998 shares. The stock had previously closed at $5.16.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial restated a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a report on Tuesday, November 19th. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Performance

The stock’s 50 day moving average price is $5.29 and its 200 day moving average price is $5.67. The company has a market capitalization of $2.61 billion, a P/E ratio of -5.36 and a beta of 4.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

Insiders Place Their Bets

In related news, insider Michael O. Mccarthy III sold 27,305 shares of QuantumScape stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.07, for a total value of $138,436.35. Following the completion of the sale, the insider now owns 1,129,167 shares of the company’s stock, valued at approximately $5,724,876.69. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total transaction of $65,056.32. Following the completion of the transaction, the director now directly owns 241,195 shares in the company, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 536,460 shares of company stock worth $2,903,619. Company insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in QuantumScape by 3.9% in 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. Weiss Asset Management LP bought a new position in shares of QuantumScape during the 3rd quarter valued at approximately $828,000. Nisa Investment Advisors LLC raised its holdings in shares of QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after purchasing an additional 133,000 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in QuantumScape in the second quarter worth $644,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of QuantumScape during the 2nd quarter valued at $680,000. 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.