QuantumScape (NYSE:QS) Trading Down 8.6% – Should You Sell?

QuantumScape Co. (NYSE:QS) dropped 8.6% during trading on Wednesday . The company traded as low as $5.67 and last traded at $5.75. Approximately 12,385,883 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 22,383,760 shares. The stock had previously closed at $6.29.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on QS shares. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Truist Financial reissued 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. Finally, HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Price Performance

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 stock’s fifty day moving average is $5.23 and its 200-day moving average is $5.68. The stock has a market capitalization of $2.87 billion, a PE ratio of -5.91 and a beta of 4.46.

QuantumScape (NYSE:QS) last posted its quarterly earnings results 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 period in the previous year, the firm earned ($0.23) EPS. As a group, equities analysts predict that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, Director Jagdeep Singh sold 308,097 shares of the company’s 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 owns 2,563,767 shares of the company’s stock, valued at approximately $13,587,965.10. This represents a 10.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mohit Singh sold 97,305 shares of QuantumScape 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 approximately $6,814,204.80. This trade represents a 8.18 % 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 worth $2,903,619 over the last quarter. 12.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds have recently bought and sold shares of QS. Signaturefd LLC lifted its position in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after acquiring an additional 2,148 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of QuantumScape by 32.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock valued at $78,000 after purchasing an additional 3,310 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of QuantumScape by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock valued at $413,000 after purchasing an additional 3,527 shares during the period. International Assets Investment Management LLC grew its stake in 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 buying an additional 4,228 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in QuantumScape by 4.6% in 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 during the last quarter. Institutional investors and hedge funds 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.