QuantumScape (NYSE:QS) Trading Down 0.4%

Shares of QuantumScape Co. (NYSE:QS) dropped 0.4% on Thursday . The company traded as low as $5.36 and last traded at $5.42. Approximately 1,195,350 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 8,914,119 shares. The stock had previously closed at $5.44.

Analyst Upgrades and Downgrades

Several research firms have commented on QS. Truist Financial lowered their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, April 22nd. UBS Group reduced their price objective on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Robert W. Baird boosted their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, QuantumScape currently has an average rating of “Hold” and an average price target of $6.09.

QuantumScape Stock Performance

The company has a market cap of $2.69 billion, a PE ratio of -5.65 and a beta of 4.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38. The stock’s 50-day simple moving average is $5.80 and its 200 day simple moving average is $6.38.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period in the prior year, the firm posted ($0.25) EPS. As a group, equities analysts anticipate that QuantumScape Co. will post -0.9 EPS for the current year.

Insider Transactions at QuantumScape

In other news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the transaction, the chief financial officer now directly owns 1,178,512 shares of the company’s stock, valued at approximately $7,236,063.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total value of $212,486.98. Following the sale, the chief financial officer now directly owns 1,178,512 shares of the company’s stock, valued at approximately $7,236,063.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 completion of the sale, the insider now directly owns 731,629 shares in the company, valued at $4,514,150.93. The disclosure for this sale can be found here. Insiders have sold a total of 125,661 shares of company stock valued at $785,018 in the last ninety days. 10.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuantumScape

A number of large investors have recently added to or reduced their stakes in QS. Spire Wealth Management lifted its holdings in shares of QuantumScape by 39.0% during the 4th 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 period. International Assets Investment Management LLC lifted its holdings in shares of QuantumScape by 595.1% during the 4th 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 period. C M Bidwell & Associates Ltd. lifted its holdings in shares of QuantumScape by 37.3% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after acquiring an additional 1,835 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of QuantumScape by 57.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock worth $56,000 after acquiring an additional 2,954 shares during the period. Finally, StepStone Group LP purchased a new position in shares of QuantumScape during the 4th quarter worth about $56,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.