QuantumScape (NYSE:QS) Shares Down 1.6%

QuantumScape Co. (NYSE:QS)’s stock price was down 1.6% during trading on Friday . The company traded as low as $4.92 and last traded at $4.95. Approximately 1,053,628 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 7,951,085 shares. The stock had previously closed at $5.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on QS shares. Truist Financial lowered their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. UBS Group lowered their price objective on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.67.

QuantumScape Price Performance

The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -5.13 and a beta of 4.69. 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 company has a 50 day simple moving average of $5.49 and a 200 day simple moving average of $6.26.

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). As a group, research analysts predict that QuantumScape Co. will post -0.89 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jagdeep Singh sold 192,280 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 2,809,253 shares in the company, valued at $16,434,130.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Jagdeep Singh sold 192,280 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 2,809,253 shares in the company, valued at $16,434,130.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin Hettrich sold 45,848 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $5.61, for a total value of $257,207.28. Following the completion of the sale, the chief financial officer now owns 1,145,821 shares of the company’s stock, valued at approximately $6,428,055.81. The disclosure for this sale can be found here. Insiders sold 490,859 shares of company stock worth $2,768,719 over the last three months. 10.18% of the stock is owned by insiders.

Institutional Investors Weigh In On QuantumScape

Large investors have recently modified their holdings of the stock. Citigroup Inc. grew its stake in shares of QuantumScape by 97.7% in the third quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after buying an additional 51,934 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its holdings in QuantumScape by 34.5% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock valued at $77,000 after purchasing an additional 2,861 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in QuantumScape by 26.4% in the fourth quarter. Victory Capital Management Inc. now owns 43,752 shares of the company’s stock valued at $304,000 after purchasing an additional 9,135 shares during the last quarter. Scotia Capital Inc. purchased a new position in QuantumScape in the third quarter valued at about $95,000. Finally, HBK Sorce Advisory LLC boosted its holdings in QuantumScape by 11.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock valued at $150,000 after purchasing an additional 2,264 shares during the last quarter. Institutional investors and hedge funds 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.