QuantumScape (NYSE:QS) Trading Down 2.4% – Here’s Why

QuantumScape Co. (NYSE:QS)’s share price dropped 2.4% on Tuesday . The stock traded as low as $4.89 and last traded at $4.93. Approximately 2,449,579 shares were traded during trading, a decline of 72% from the average daily volume of 8,767,718 shares. The stock had previously closed at $5.05.

Wall Street Analyst Weigh In

QS has been the topic of several recent research reports. Truist Financial reiterated a “hold” rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, Wolfe Research began coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.14.

QuantumScape Stock 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 firm has a market capitalization of $2.49 billion, a P/E ratio of -5.17 and a beta of 4.60. The stock’s 50 day moving average is $5.51 and its two-hundred day moving average is $5.77.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the business posted ($0.23) EPS. As a group, equities analysts anticipate that QuantumScape Co. will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the completion of the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total transaction of $76,931.68. Following the transaction, the director now owns 254,103 shares of the company’s stock, valued at $1,514,453.88. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 711,321 shares of company stock worth $4,138,097 over the last quarter. 12.03% of the stock is currently owned by company insiders.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in QuantumScape by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after acquiring an additional 656,646 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in QuantumScape by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $12,806,000 after acquiring an additional 93,826 shares in the last quarter. Janus Henderson Group PLC raised its position in QuantumScape by 1.4% during the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock worth $11,482,000 after acquiring an additional 25,347 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in QuantumScape by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock worth $6,785,000 after acquiring an additional 94,103 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in QuantumScape by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock worth $4,579,000 after acquiring an additional 11,897 shares in the last quarter. 29.87% of the stock is owned by institutional investors.

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.