QuantumScape (NYSE:QS) Shares Down 3.3%

Shares of QuantumScape Co. (NYSE:QS) dropped 3.3% during mid-day trading on Thursday . The stock traded as low as $5.80 and last traded at $5.82. Approximately 1,340,270 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 8,869,876 shares. The stock had previously closed at $6.02.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. UBS Group decreased their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, Truist Financial decreased their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.09.

QuantumScape Price Performance

The company has a current ratio of 10.38, a quick ratio of 10.38 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.80 billion, a PE ratio of -5.82 and a beta of 4.74. The firm has a 50 day moving average price of $5.76 and a 200 day moving average price of $6.39.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). Research analysts anticipate that QuantumScape Co. will post -0.9 earnings per share for the current year.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the sale, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the sale, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares of the company’s stock, valued at approximately $4,514,150.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,661 shares of company stock worth $785,018. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund lifted its holdings in shares of QuantumScape by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock valued at $1,638,000 after acquiring an additional 1,481 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of QuantumScape by 39.0% in the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares during the last quarter. Xponance Inc. lifted its holdings in shares of QuantumScape by 15.8% in the 4th quarter. Xponance Inc. now owns 12,050 shares of the company’s stock valued at $84,000 after acquiring an additional 1,640 shares during the last quarter. C M Bidwell & Associates Ltd. lifted its holdings in shares of QuantumScape by 37.3% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock valued at $45,000 after acquiring an additional 1,835 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of QuantumScape by 8.7% in the 3rd quarter. Principal Financial Group Inc. now owns 23,143 shares of the company’s stock valued at $155,000 after acquiring an additional 1,858 shares during the last quarter. 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.