QuantumScape (NYSE:QS) Reaches New 1-Year Low at $4.67

Shares of QuantumScape Co. (NYSE:QS) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $4.67 and last traded at $4.76, with a volume of 769500 shares trading hands. The stock had previously closed at $4.89.

Analysts Set New Price Targets

QS has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. UBS Group cut their price target on shares of 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 issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.67.

QuantumScape Trading Down 2.2 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 10.38 and a quick ratio of 10.38. The company’s 50 day simple moving average is $5.49 and its two-hundred day simple moving average is $6.26.

QuantumScape (NYSE:QS) last posted its 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). Equities research analysts forecast that QuantumScape Co. will post -0.89 earnings per share for the current year.

Insiders Place Their Bets

In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $5.35, for a total value of $1,028,644.50. Following the completion of the sale, the director now directly owns 2,809,253 shares of the company’s stock, valued at $15,029,503.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Kevin Hettrich sold 45,848 shares of the company’s stock in a transaction 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 sale, 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 this link. Also, Director Jagdeep Singh sold 192,270 shares of the company’s 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 of the company’s stock, valued at $15,029,503.55. The disclosure for this sale can be found here. Insiders sold 490,859 shares of company stock valued at $2,768,719 over the last ninety days. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Several large investors have recently modified their holdings of QS. Spire Wealth Management boosted its holdings in shares of QuantumScape by 39.0% during the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares during the period. International Assets Investment Management LLC boosted 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 purchasing an additional 5,296 shares during the period. Tower Research Capital LLC TRC boosted 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 purchasing an additional 2,954 shares during the period. StepStone Group LP bought a new stake in QuantumScape in the 4th quarter valued at $56,000. Finally, Evergreen Wealth Solutions LLC bought a new stake in QuantumScape in the 1st quarter valued at $64,000. 29.87% of the stock is owned by institutional investors.

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.