QuantumScape (NYSE:QS) Trading Down 1.7%

QuantumScape Co. (NYSE:QS) dropped 1.7% during trading on Tuesday . The stock traded as low as $5.70 and last traded at $5.70. Approximately 1,141,919 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 9,202,422 shares. The stock had previously closed at $5.80.

Wall Street Analyst Weigh In

QS has been the topic of several recent analyst reports. UBS Group dropped their price target on QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Truist Financial reaffirmed a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, QuantumScape has a consensus rating of “Hold” and a consensus price target of $6.62.

QuantumScape Price Performance

The company has a market cap of $2.92 billion, a price-to-earnings ratio of -5.94 and a beta of 4.62. The company has a fifty day moving average price of $6.06 and a two-hundred day moving average price of $6.03. The company has a current ratio of 8.66, a quick ratio of 10.38 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter last year, the business earned ($0.26) earnings per share. As a group, equities research analysts anticipate that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, Director Fritz Prinz sold 25,816 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.87, for a total value of $125,723.92. Following the sale, the director now owns 267,011 shares of the company’s stock, valued at approximately $1,300,343.57. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other QuantumScape news, Director Jagdeep Singh sold 79,006 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $5.03, for a total value of $397,400.18. Following the transaction, the director now owns 2,809,253 shares of the company’s stock, valued at $14,130,542.59. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Fritz Prinz sold 25,816 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.87, for a total value of $125,723.92. Following the completion of the transaction, the director now directly owns 267,011 shares in the company, valued at approximately $1,300,343.57. The disclosure for this sale can be found here. Insiders have sold a total of 1,193,906 shares of company stock valued at $7,004,864 in the last 90 days. 10.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Spire Wealth Management raised its position in shares of QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after acquiring an additional 1,500 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of QuantumScape by 595.1% during the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after acquiring an additional 5,296 shares during the last quarter. CWM LLC increased its holdings in QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares during the last quarter. Mather Group LLC. bought a new stake in QuantumScape in the second quarter valued at about $36,000. Finally, StepStone Group LP bought a new stake in QuantumScape in the fourth quarter valued at about $56,000. 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.