QuantumScape (NYSE:QS) Trading Down 4% – Here’s What Happened

QuantumScape Co. (NYSE:QS) shares traded down 4% during mid-day trading on Tuesday . The stock traded as low as $4.93 and last traded at $4.99. 2,666,047 shares changed hands during trading, a decline of 70% from the average session volume of 8,860,672 shares. The stock had previously closed at $5.20.

Analyst Ratings Changes

Several brokerages recently weighed in on QS. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research report on Tuesday, November 19th. 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. Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Wolfe Research assumed coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The firm’s 50-day simple moving average is $5.35 and its 200 day simple moving average is $5.72.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the business earned ($0.23) EPS. As a group, analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Transactions at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the sale, the director now owns 241,195 shares in the company, valued at $1,215,622.80. This represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $5.99, for a total value of $1,151,697.30. Following the transaction, the director now owns 2,590,583 shares in the company, valued at $15,517,592.17. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 702,057 shares of company stock valued at $3,982,909 in the last three months. 12.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC increased its stake in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares in the last quarter. CWM LLC lifted its holdings in shares of QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after buying an additional 2,556 shares during the last quarter. Mather Group LLC. bought a new stake in shares of QuantumScape in the 2nd quarter valued at approximately $36,000. Finally, Alaska Wealth Advisors acquired a new position in QuantumScape in the second quarter worth approximately $49,000. 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.