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

Shares of QuantumScape Co. (NYSE:QS) gapped down prior to trading on Wednesday . The stock had previously closed at $6.29, but opened at $6.05. QuantumScape shares last traded at $5.81, with a volume of 4,934,031 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QS. Hsbc Global Res raised QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC raised 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Truist Financial restated a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Performance

The company’s 50-day moving average price is $5.20 and its two-hundred day moving average price is $5.68. 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 company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -6.00 and a beta of 4.46.

QuantumScape (NYSE:QS) last issued its earnings results 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 quarter last year, the company earned ($0.23) earnings per share. On average, equities research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jagdeep Singh sold 308,097 shares of QuantumScape stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the sale, the director now directly owns 2,563,767 shares in the company, valued at approximately $13,587,965.10. This trade represents a 10.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 536,460 shares of company stock worth $2,903,619 in the last quarter. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently made changes to their positions in QS. Bank of New York Mellon Corp boosted its stake in QuantumScape by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock valued at $4,579,000 after acquiring an additional 11,897 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of QuantumScape by 2.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 367,887 shares of the company’s stock worth $1,810,000 after purchasing an additional 9,290 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of QuantumScape in the 2nd quarter worth approximately $61,000. Arizona State Retirement System grew its holdings in 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 purchasing an additional 4,330 shares during the period. Finally, Ground Swell Capital LLC purchased a new stake in QuantumScape in the second quarter worth $95,000. 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.