QuantumScape (NYSE:QS) Trading Down 1%

QuantumScape Co. (NYSE:QS)’s share price fell 1% on Wednesday . The company traded as low as $5.02 and last traded at $5.04. 3,789,088 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 4,419,004 shares. The stock had previously closed at $5.09.

Analysts Set New Price Targets

A number of equities research analysts have commented on QS shares. UBS Group decreased their price target on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Truist Financial decreased their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, QuantumScape has a consensus rating of “Hold” and a consensus target price of $6.67.

QuantumScape Stock Performance

The company has a quick ratio of 10.38, a current ratio of 10.38 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.46 billion, a PE ratio of -5.13 and a beta of 4.69. The firm has a 50 day moving average price of $5.59 and a 200-day moving average price of $6.35.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). Research analysts expect that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $5.35, for a total transaction of $1,028,644.50. Following the sale, the director now directly owns 2,809,253 shares of the company’s stock, valued at approximately $15,029,503.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Kevin Hettrich sold 45,848 shares of QuantumScape stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $5.61, for a total transaction of $257,207.28. Following the completion of the transaction, the chief financial officer now directly owns 1,145,821 shares of the company’s stock, valued at approximately $6,428,055.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $5.35, for a total transaction of $1,028,644.50. Following the sale, the director now directly owns 2,809,253 shares in the company, valued at $15,029,503.55. The disclosure for this sale can be found here. Insiders sold a total of 487,559 shares of company stock valued at $2,752,186 over the last 90 days. Insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in shares of QuantumScape by 97.7% in the 3rd quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after purchasing an additional 51,934 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of QuantumScape by 65.2% in the third quarter. Rafferty Asset Management LLC now owns 50,032 shares of the company’s stock valued at $335,000 after buying an additional 19,742 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of QuantumScape during the 3rd quarter worth approximately $184,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of QuantumScape during the 3rd quarter valued at approximately $771,000. Finally, C M Bidwell & Associates Ltd. grew its stake in QuantumScape by 37.3% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock valued at $45,000 after acquiring an additional 1,835 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.