QuantumScape (NYSE:QS) Reaches New 1-Year Low – Here’s What Happened

QuantumScape Co. (NYSE:QS) reached a new 52-week low during trading on Monday . The company traded as low as $4.03 and last traded at $4.18, with a volume of 2121073 shares traded. The stock had previously closed at $4.33.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QS. Truist Financial lowered their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, February 14th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.06.

QuantumScape Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -4.34 and a beta of 4.45. The firm’s fifty day moving average is $4.77 and its 200-day moving average is $5.16.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). On average, sell-side analysts predict that QuantumScape Co. will post -0.82 earnings per share for the current year.

Insider Activity

In other QuantumScape news, insider Michael O. Mccarthy III sold 76,315 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $399,127.45. Following the transaction, the insider now owns 1,010,523 shares of the company’s stock, valued at $5,285,035.29. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.22, for a total value of $67,379.76. Following the transaction, the director now directly owns 228,287 shares of the company’s stock, valued at $1,191,658.14. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,147 shares of company stock worth $935,758. 12.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in QuantumScape in the fourth quarter worth $17,762,000. Dimensional Fund Advisors LP increased its holdings in shares of QuantumScape by 55.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company’s stock worth $30,183,000 after acquiring an additional 2,066,844 shares during the period. Vanguard Group Inc. increased its holdings in shares of QuantumScape by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock worth $168,367,000 after acquiring an additional 956,072 shares during the period. Centiva Capital LP boosted its stake in QuantumScape by 479.0% during the 4th quarter. Centiva Capital LP now owns 558,715 shares of the company’s stock valued at $2,900,000 after purchasing an additional 462,218 shares during the period. Finally, American Century Companies Inc. grew its position in QuantumScape by 1,091.5% in the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock worth $2,244,000 after purchasing an additional 396,160 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.