QuantumScape (NYSE:QS) Trading Down 0.2%

QuantumScape Co. (NYSE:QS) dropped 0.2% during mid-day trading on Tuesday . The stock traded as low as $6.47 and last traded at $6.53. Approximately 2,149,535 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 9,500,629 shares. The stock had previously closed at $6.54.

Analysts Set New Price Targets

Several brokerages have recently commented on QS. Truist Financial reduced their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, April 22nd. UBS Group decreased their price target on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, QuantumScape has an average rating of “Hold” and a consensus price target of $6.45.

QuantumScape Stock Up 0.3 %

The business has a 50 day moving average price of $6.01 and a 200 day moving average price of $6.14. The firm has a market capitalization of $3.28 billion, a P/E ratio of -6.80 and a beta of 4.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.38 and a quick ratio of 10.38.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period in the prior year, the business posted ($0.26) EPS. On average, analysts predict that QuantumScape Co. will post -0.89 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Michael O. Mccarthy III sold 22,554 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total transaction of $129,008.88. Following the completion of the transaction, the insider now directly owns 1,207,500 shares of the company’s stock, valued at $6,906,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Kevin Hettrich sold 45,848 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $5.61, for a total transaction of $257,207.28. Following the transaction, the chief financial officer now directly owns 1,145,821 shares of the company’s stock, valued at approximately $6,428,055.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total transaction of $129,008.88. Following the transaction, the insider now directly owns 1,207,500 shares of the company’s stock, valued at $6,906,900. The disclosure for this sale can be found here. Insiders have sold 847,562 shares of company stock valued at $4,869,703 in the last 90 days. 10.18% of the stock is owned by insiders.

Institutional Trading of QuantumScape

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after acquiring an additional 656,646 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after purchasing an additional 3,004,964 shares during the period. Baillie Gifford & Co. lifted its holdings in QuantumScape by 10.3% during the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock worth $16,854,000 after purchasing an additional 251,186 shares during the last quarter. Norges Bank bought a new stake in QuantumScape in the 4th quarter valued at $18,482,000. Finally, Board of Trustees of The Leland Stanford Junior University boosted its stake in QuantumScape by 5.2% in the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock valued at $18,144,000 after purchasing an additional 129,239 shares during the period. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.