QuantumScape (NYSE:QS) Stock Price Down 9.5% Following Analyst Downgrade

QuantumScape Co. (NYSE:QS)’s share price fell 9.5% on Thursday after UBS Group lowered their price target on the stock from $9.00 to $5.00. UBS Group currently has a neutral rating on the stock. QuantumScape traded as low as $4.92 and last traded at $4.96. 6,020,750 shares were traded during trading, a decline of 35% from the average session volume of 9,317,990 shares. The stock had previously closed at $5.48.

Other equities analysts also recently issued research reports about the company. Robert W. Baird boosted their price target on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Truist Financial dropped their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus target price of $6.30.

Insider Transactions at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $6.11, for a total value of $211,448.77. Following the completion of the sale, the chief financial officer now directly owns 556,302 shares in the company, valued at approximately $3,399,005.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the transaction, the director now directly owns 292,644 shares of the company’s stock, valued at $1,966,567.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $6.11, for a total transaction of $211,448.77. Following the completion of the sale, the chief financial officer now owns 556,302 shares of the company’s stock, valued at $3,399,005.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,970 shares of company stock worth $1,250,775. Company insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its position 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 buying an additional 1,481 shares in the last quarter. Spire Wealth Management raised its position in QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares in the last quarter. Xponance Inc. lifted its stake in QuantumScape by 15.8% during the fourth quarter. Xponance Inc. now owns 12,050 shares of the company’s stock worth $84,000 after purchasing an additional 1,640 shares during the last quarter. CWM LLC boosted its holdings in shares of QuantumScape by 31.1% in the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock valued at $51,000 after purchasing an additional 1,794 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. boosted 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 purchasing an additional 1,835 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Performance

The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.67 billion, a P/E ratio of -5.61 and a beta of 4.76. The company has a 50 day moving average price of $5.93 and a 200-day moving average price of $6.42.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same quarter in the previous year, the company posted ($0.25) earnings per share. On average, equities analysts expect that QuantumScape Co. will post -0.93 earnings per share for the current fiscal year.

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.