QuantumScape (NYSE:QS) Stock Price Down 4.2% – What’s Next?

QuantumScape Co. (NYSE:QS)’s share price traded down 4.2% during trading on Friday . The company traded as low as $5.43 and last traded at $5.48. Approximately 5,765,409 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 21,944,346 shares. The stock had previously closed at $5.72.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial reiterated a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Finally, HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock Down 1.9 %

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average price is $5.23 and its two-hundred day moving average price is $5.69. The firm has a market capitalization of $2.87 billion, a PE ratio of -5.91 and a beta of 4.46.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the company posted ($0.23) earnings per share. As a group, research analysts forecast that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other news, CFO Kevin Hettrich sold 55,647 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the sale, the chief financial officer now directly owns 1,022,743 shares of the company’s stock, valued at $5,164,852.15. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now directly owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 536,460 shares of company stock valued at $2,903,619 in the last quarter. Insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in QuantumScape by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock worth $4,579,000 after purchasing an additional 11,897 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of QuantumScape by 2.6% in the second quarter. Commonwealth Equity Services LLC now owns 367,887 shares of the company’s stock worth $1,810,000 after buying an additional 9,290 shares during the period. Arizona State Retirement System grew its holdings in shares of QuantumScape by 4.6% during the second quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock valued at $486,000 after buying an additional 4,330 shares in the last quarter. American Century Companies Inc. raised its position in QuantumScape by 880.6% during the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after buying an additional 316,361 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in QuantumScape in the 2nd quarter worth about $68,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.