QuantumScape (NYSE:QS) Stock Price Down 2.6%

Shares of QuantumScape Co. (NYSE:QS) fell 2.6% during mid-day trading on Friday . The stock traded as low as $4.78 and last traded at $4.79. 1,971,413 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 8,047,536 shares. The stock had previously closed at $4.92.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QS. Truist Financial lowered their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. UBS Group lowered their price objective on QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.67.

QuantumScape Price Performance

The company has a 50 day moving average price of $5.55 and a 200 day moving average price of $6.33. The firm has a market cap of $2.46 billion, a PE ratio of -5.13 and a beta of 4.69. The company has a current ratio of 10.38, a quick ratio of 10.38 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, April 24th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). On average, sell-side analysts expect that QuantumScape Co. will post -0.9 EPS for the current year.

Insider Transactions at QuantumScape

In related news, Director Jagdeep Singh sold 192,280 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $5.85, for a total value of $1,124,838.00. Following the sale, the director now owns 2,809,253 shares of the company’s stock, valued at approximately $16,434,130.05. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Jagdeep Singh sold 192,280 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $5.85, for a total value of $1,124,838.00. Following the sale, the director now owns 2,809,253 shares of the company’s stock, valued at approximately $16,434,130.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $6.14, for a total value of $212,486.98. Following the completion of the sale, the chief financial officer now directly owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The disclosure for this sale can be found here. Insiders have sold 487,559 shares of company stock valued at $2,752,186 in the last quarter. 10.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spire Wealth Management raised its holdings in QuantumScape by 39.0% in the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares during the last quarter. International Assets Investment Management LLC raised its holdings in QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after acquiring an additional 5,296 shares during the last quarter. C M Bidwell & Associates Ltd. raised its holdings 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 last quarter. Tower Research Capital LLC TRC raised its holdings in QuantumScape by 57.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock valued at $56,000 after acquiring an additional 2,954 shares during the last quarter. Finally, StepStone Group LP acquired a new position in QuantumScape in the 4th quarter valued at $56,000. 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.