QuantumScape (NYSE:QS) Trading Down 0.5% – Here’s What Happened

Shares of QuantumScape Co. (NYSE:QS) traded down 0.5% on Thursday . The company traded as low as $4.97 and last traded at $5.01. 4,191,712 shares were traded during trading, a decline of 77% from the average session volume of 18,150,969 shares. The stock had previously closed at $5.03.

Wall Street Analysts Forecast Growth

QS has been the subject of a number of research analyst reports. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research note on Tuesday, November 19th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Finally, Truist Financial reissued a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Performance

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $5.28 and a 200 day simple moving average of $5.70. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -5.43 and a beta of 4.46.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the business posted ($0.23) earnings per share. As a group, analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the sale, the insider now owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. The trade was a 8.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares in the company, valued at $12,978,820.83. This trade represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 536,460 shares of company stock worth $2,903,619. Insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

A number of institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC acquired a new stake in QuantumScape in the fourth quarter worth approximately $26,000. Signaturefd LLC lifted its holdings in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares during the period. International Assets Investment Management LLC boosted its stake in QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares in the last quarter. Blue Trust Inc. grew its holdings in QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after acquiring an additional 4,556 shares during the period. Finally, Centaurus Financial Inc. bought a new stake in QuantumScape in the second quarter worth about $52,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.