QuantumScape (NYSE:QS) Shares Down 5.7% – What’s Next?

QuantumScape Co. (NYSE:QS)’s share price traded down 5.7% during mid-day trading on Monday . The company traded as low as $5.83 and last traded at $5.84. 5,800,218 shares were traded during trading, a decline of 33% from the average session volume of 8,624,057 shares. The stock had previously closed at $6.19.

Analyst Upgrades and Downgrades

Several research analysts have commented on QS shares. Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. Truist Financial restated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and an average target price of $6.14.

QuantumScape Price Performance

The business has a 50-day simple moving average of $5.68 and a two-hundred day simple moving average of $5.80. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -5.73 and a beta of 4.58.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the business posted ($0.23) earnings per share. As a group, research analysts predict that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In related news, CFO Kevin Hettrich sold 58,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $5.78, for a total transaction of $335,240.00. Following the completion of the sale, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at $6,202,067.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the transaction, the director now owns 254,103 shares of the company’s stock, valued at approximately $1,514,453.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 58,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $5.78, for a total transaction of $335,240.00. Following the sale, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at $6,202,067.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 903,591 shares of company stock valued at $5,195,582 in the last quarter. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in QuantumScape by 5.8% during the 3rd quarter. Van ECK Associates Corp now owns 121,835 shares of the company’s stock worth $701,000 after acquiring an additional 6,692 shares during the period. Farther Finance Advisors LLC lifted its position in shares of QuantumScape by 32.4% in the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after purchasing an additional 3,310 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of QuantumScape by 137.2% during the third quarter. Pinnacle Associates Ltd. now owns 28,350 shares of the company’s stock worth $163,000 after purchasing an additional 16,400 shares during the period. Nisa Investment Advisors LLC grew its position in QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after purchasing an additional 133,000 shares in the last quarter. Finally, PFG Investments LLC increased its stake in QuantumScape by 29.8% in the 3rd quarter. PFG Investments LLC now owns 20,415 shares of the company’s stock valued at $117,000 after buying an additional 4,688 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.