QuantumScape (NYSE:QS) Stock Price Down 4%

QuantumScape Co. (NYSE:QS)’s share price fell 4% on Monday . The company traded as low as $6.75 and last traded at $6.76. 3,038,167 shares changed hands during trading, a decline of 68% from the average session volume of 9,491,719 shares. The stock had previously closed at $7.04.

Wall Street Analysts Forecast Growth

QS has been the subject of several recent research reports. Truist Financial dropped their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. UBS Group dropped their price target on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, QuantumScape currently has an average rating of “Hold” and a consensus target price of $6.45.

QuantumScape Stock Down 6.4 %

The company has a 50-day simple moving average of $5.99 and a 200-day simple moving average of $6.15. The firm has a market cap of $3.29 billion, a PE ratio of -6.94 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 announced its 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 quarter last year, the firm posted ($0.26) earnings per share. Analysts expect that QuantumScape Co. will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kevin Hettrich sold 45,848 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $5.61, for a total transaction of $257,207.28. Following the sale, the chief financial officer now directly owns 1,145,821 shares of the company’s stock, valued at $6,428,055.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Mohit Singh sold 173,224 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the sale, the insider now directly owns 1,196,905 shares of the company’s stock, valued at $8,426,211.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Hettrich sold 45,848 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $5.61, for a total transaction of $257,207.28. Following the sale, the chief financial officer now directly owns 1,145,821 shares in the company, valued at $6,428,055.81. The disclosure for this sale can be found here. Insiders sold 847,562 shares of company stock valued at $4,869,703 over the last 90 days. Corporate insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of QuantumScape by 23.3% in the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after acquiring an additional 5,483,319 shares during the period. Raymond James & Associates raised its position in shares of QuantumScape by 14.0% during the 4th quarter. Raymond James & Associates now owns 25,786 shares of the company’s stock worth $179,000 after purchasing an additional 3,158 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of QuantumScape by 6.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 301,079 shares of the company’s stock worth $2,092,000 after purchasing an additional 17,470 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC raised its position in shares of QuantumScape by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock worth $77,000 after purchasing an additional 2,861 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position 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 purchasing an additional 5,296 shares during the last quarter. 29.87% of the stock is owned by hedge funds and other 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.