QuantumScape (NYSE:QS) Trading Down 6.8% – Here’s What Happened

QuantumScape Corporation (NYSE:QS) shares dropped 6.8% during trading on Monday . The company traded as low as $7.40 and last traded at $7.4640. Approximately 5,279,772 shares traded hands during trading, a decline of 69% from the average daily volume of 16,815,533 shares. The stock had previously closed at $8.01.

Analysts Set New Price Targets

QS has been the topic of a number of analyst reports. TD Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and cut their target price for the company from $10.50 to $8.30 in a research note on Wednesday, February 18th. Robert W. Baird set a $12.00 target price on QuantumScape in a research note on Thursday, February 12th. Finally, Morgan Stanley cut their target price on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, QuantumScape has an average rating of “Reduce” and an average price target of $11.13.

QuantumScape Stock Down 9.1%

The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The stock has a market cap of $4.48 billion, a PE ratio of -8.97 and a beta of 2.57. The business has a fifty day moving average of $6.98 and a 200-day moving average of $9.62.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. During the same period in the previous year, the business posted ($0.21) earnings per share. Equities research analysts anticipate that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Activity at QuantumScape

In other news, insider Mohit Singh sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $7.87, for a total value of $393,500.00. Following the completion of the transaction, the insider directly owned 1,803,035 shares in the company, valued at $14,189,885.45. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 45,000 shares of QuantumScape stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $6.73, for a total value of $302,850.00. Following the sale, the insider directly owned 954,219 shares of the company’s stock, valued at $6,421,893.87. This trade represents a 4.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 744,031 shares of company stock valued at $5,089,859 in the last ninety days. Company insiders own 5.48% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds have recently made changes to their positions in QS. VSM Wealth Advisory LLC raised its holdings in QuantumScape by 46.8% in the 3rd quarter. VSM Wealth Advisory LLC now owns 2,352 shares of the company’s stock valued at $29,000 after acquiring an additional 750 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of QuantumScape by 8.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company’s stock worth $153,000 after buying an additional 939 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of QuantumScape by 67.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock worth $31,000 after buying an additional 1,005 shares during the last quarter. CWM LLC increased its holdings in shares of QuantumScape by 69.1% during the 3rd quarter. CWM LLC now owns 2,625 shares of the company’s stock worth $32,000 after buying an additional 1,073 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in shares of QuantumScape by 6.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 20,855 shares of the company’s stock worth $257,000 after buying an additional 1,173 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.