QuantumScape (NYSE:QS) Shares Down 1.5% – Time to Sell?

QuantumScape Co. (NYSE:QS)’s share price dropped 1.5% during mid-day trading on Tuesday . The stock traded as low as $5.29 and last traded at $5.31. Approximately 4,438,646 shares were traded during trading, a decline of 78% from the average daily volume of 20,585,576 shares. The stock had previously closed at $5.39.

Analyst Upgrades and Downgrades

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

QuantumScape Price Performance

The stock has a fifty day moving average of $5.23 and a 200-day moving average of $5.70. The firm has a market capitalization of $2.74 billion, a P/E ratio of -5.62 and a beta of 4.46. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the prior year, the company earned ($0.23) EPS. Equities analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kevin Hettrich sold 55,647 shares of QuantumScape stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $5.05, for a total transaction of $281,017.35. Following the completion of the sale, the chief financial officer now owns 1,022,743 shares in the company, valued at $5,164,852.15. The trade was a 5.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael O. Mccarthy III sold 27,305 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.07, for a total transaction of $138,436.35. Following the sale, the insider now directly owns 1,129,167 shares of the company’s stock, valued at approximately $5,724,876.69. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 536,460 shares of company stock worth $2,903,619 in the last quarter. Insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

A number of institutional investors have recently bought and sold shares of QS. Arizona State Retirement System boosted its position in shares of QuantumScape by 4.6% in the 2nd quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock worth $486,000 after purchasing an additional 4,330 shares during the last quarter. American Century Companies Inc. lifted its stake in QuantumScape by 880.6% in 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. Mercer Global Advisors Inc. ADV bought a new position in QuantumScape during the second quarter worth about $68,000. Vanguard Personalized Indexing Management LLC grew its position in shares of QuantumScape by 41.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 25,877 shares of the company’s stock worth $127,000 after buying an additional 7,624 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of QuantumScape by 36.0% in the 2nd quarter. Hsbc Holdings PLC now owns 16,737 shares of the company’s stock valued at $82,000 after acquiring an additional 4,433 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.