QuantumScape (NYSE:QS) Hits New 12-Month Low – Here’s What Happened

QuantumScape Corporation (NYSE:QS)’s share price reached a new 52-week low during trading on Monday. The stock traded as low as $4.38 and last traded at $4.3650, with a volume of 1,933,521 shares trading hands. The stock had previously closed at $4.58.

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, July 24th. Five investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.47.

QuantumScape Stock Down 3.5%

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 fifty day simple moving average is $5.31 and its two-hundred day simple moving average is $6.44. The stock has a market capitalization of $2.55 billion, a P/E ratio of -5.09 and a beta of 2.83.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.20) EPS. As a group, research analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Timothy Holme sold 45,000 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $4.54, for a total transaction of $204,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 294,599 shares of company stock valued at $1,473,271 in the last three months. Corporate insiders own 3.93% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors have recently made changes to their positions in QS. Dimensional Fund Advisors LP raised its position in shares of QuantumScape by 134.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,735,035 shares of the company’s stock worth $36,570,000 after acquiring an additional 3,290,942 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in QuantumScape during the 2nd quarter valued at approximately $9,619,000. AXQ Capital LP increased its position in QuantumScape by 313.2% during the 2nd quarter. AXQ Capital LP now owns 463,653 shares of the company’s stock valued at $3,505,000 after purchasing an additional 351,451 shares during the period. Virtu Financial LLC bought a new position in QuantumScape during the 4th quarter worth approximately $3,287,000. Finally, California State Teachers Retirement System raised its holdings in QuantumScape by 23.3% during the 1st quarter. California State Teachers Retirement System now owns 491,725 shares of the company’s stock worth $3,137,000 after purchasing an additional 93,079 shares during the last quarter. Institutional investors own 29.87% of the company’s stock.

About QuantumScape

QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries for electric vehicles and other applications. Its technology is designed to replace conventional lithium-ion battery components, including the graphite anode, with a lithium-metal anode and a solid ceramic separator.

The company is developing battery cells intended to offer higher energy density, faster charging, improved safety and longer operating range than many conventional lithium-ion batteries.