QuantumScape (NYSE:QS) Trading Down 4.2% – Here’s Why

Shares of QuantumScape Co. (NYSE:QS) fell 4.2% during trading on Friday . The stock traded as low as $5.43 and last traded at $5.48. 5,765,409 shares were traded during mid-day trading, a decline of 74% from the average session volume of 21,944,346 shares. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on QS. Truist Financial reiterated 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. HSBC upgraded 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. Finally, Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Performance

The stock’s fifty day moving average price is $5.22 and its two-hundred day moving average price is $5.68. The company has a market cap of $2.86 billion, a P/E ratio of -5.88 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.

QuantumScape (NYSE:QS) last issued 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 in the previous year, the business earned ($0.23) earnings per share. As a group, equities analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the sale, the director now owns 2,590,583 shares of the company’s stock, valued at $12,978,820.83. This trade represents a 0.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the transaction, the director now directly owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 536,460 shares of company stock valued at $2,903,619. 12.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new position in shares of QuantumScape during the second quarter worth about $1,950,000. American Century Companies Inc. raised its holdings in QuantumScape by 880.6% during the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock worth $1,733,000 after purchasing an additional 316,361 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of QuantumScape during the third quarter worth $828,000. Finally, Nisa Investment Advisors LLC raised its stake in QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after buying an additional 133,000 shares during the last quarter. 29.87% of the stock is 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.