QuantumScape (NYSE:QS) Trading Down 6.8% – Time to Sell?

QuantumScape Corporation (NYSE:QS)’s stock price was down 6.8% during trading on Thursday . The stock traded as low as $15.83 and last traded at $15.91. Approximately 23,560,676 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 29,233,482 shares. The stock had previously closed at $17.07.

Analysts Set New Price Targets

Several research firms have weighed in on QS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. TD Cowen raised 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 reissued a “hold” rating on shares of QuantumScape in a research note on Thursday, October 30th. Robert W. Baird increased their price target on shares of QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price objective on shares of QuantumScape and gave the company a “hold” rating in a research report on Thursday, October 23rd. Eight equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $7.66.

QuantumScape Stock Up 4.2%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The stock’s 50 day moving average price is $13.46 and its 200-day moving average price is $9.02. The company has a market cap of $9.96 billion, a PE ratio of -20.46 and a beta of 4.83.

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

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Jeffrey B. Straubel sold 157,180 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $9.20, for a total transaction of $1,446,056.00. Following the completion of the sale, the director owned 348,146 shares of the company’s stock, valued at $3,202,943.20. This represents a 31.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mohit Singh sold 220,000 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $15.09, for a total transaction of $3,319,800.00. Following the transaction, the insider directly owned 1,420,054 shares of the company’s stock, valued at approximately $21,428,614.86. This trade represents a 13.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,001,305 shares of company stock worth $44,058,829 over the last quarter. Company insiders own 5.48% of the company’s stock.

Institutional Trading of QuantumScape

Several large investors have recently bought and sold shares of QS. Tsfg LLC increased its holdings in QuantumScape by 233.3% in the 3rd quarter. Tsfg LLC now owns 2,000 shares of the company’s stock worth $25,000 after buying an additional 1,400 shares in the last quarter. REAP Financial Group LLC boosted its holdings in shares of QuantumScape by 300.0% during the 3rd quarter. REAP Financial Group LLC now owns 2,000 shares of the company’s stock valued at $25,000 after acquiring an additional 1,500 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of QuantumScape by 538.7% in the third quarter. Global Retirement Partners LLC now owns 2,312 shares of the company’s stock worth $28,000 after acquiring an additional 1,950 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in shares of QuantumScape by 67.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock valued at $31,000 after purchasing an additional 1,005 shares during the last quarter. Finally, CWM LLC lifted its position in QuantumScape by 69.1% during the third quarter. CWM LLC now owns 2,625 shares of the company’s stock valued at $32,000 after purchasing an additional 1,073 shares during the period. 29.87% of the stock is owned by institutional investors.

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.