QuantumScape (NYSE:QS) Stock Price Down 4.8% – Time to Sell?

QuantumScape Corporation (NYSE:QS) dropped 4.8% during mid-day trading on Tuesday . The stock traded as low as $14.76 and last traded at $15.4350. Approximately 25,242,469 shares traded hands during trading, a decline of 14% from the average daily volume of 29,183,539 shares. The stock had previously closed at $16.21.

Wall Street Analyst Weigh In

Several brokerages have recently commented on QS. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. Robert W. Baird raised their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. TD Cowen boosted their target price on shares of QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Cowen restated a “hold” rating on shares of QuantumScape in a research report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Eight analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $7.66.

QuantumScape Stock Performance

The company has a market cap of $8.74 billion, a P/E ratio of -19.06 and a beta of 4.85. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average price of $12.81 and a 200-day moving average price of $8.74.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of ($36.67) million during the quarter. During the same period in the prior year, the firm earned ($0.23) earnings per share. Equities analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey B. Straubel sold 157,180 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $9.20, for a total transaction of $1,446,056.00. Following the sale, the director owned 348,146 shares of the company’s stock, valued at $3,202,943.20. The trade was a 31.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Singh sold 220,000 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $15.09, for a total value of $3,319,800.00. Following the completion of the sale, the insider owned 1,420,054 shares of the company’s stock, valued at $21,428,614.86. This trade represents a 13.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,844,134 shares of company stock valued at $41,397,924. 5.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

Several hedge funds have recently made changes to their positions in QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock worth $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Vanguard Group Inc. grew its position in QuantumScape by 9.0% in the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock worth $147,064,000 after buying an additional 2,911,362 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of QuantumScape by 2,036.7% in the second quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company’s stock valued at $16,483,000 after buying an additional 2,338,038 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of QuantumScape by 1,005.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company’s stock valued at $13,323,000 after acquiring an additional 1,803,196 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of QuantumScape by 148.0% during the 2nd quarter. Bank of America Corp DE now owns 2,803,989 shares of the company’s stock worth $18,843,000 after acquiring an additional 1,673,472 shares in the last quarter. 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.