QuantumScape (NYSE:QS) Trading Down 0.4%

QuantumScape Co. (NYSE:QS)’s share price dropped 0.4% during trading on Thursday . The company traded as low as $5.36 and last traded at $5.42. Approximately 1,195,350 shares traded hands during trading, a decline of 87% from the average daily volume of 8,914,119 shares. The stock had previously closed at $5.44.

Analyst Ratings Changes

QS has been the subject of a number of recent research reports. Robert W. Baird upped their target price on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Truist Financial lowered their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Finally, UBS Group lowered their target price on QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.09.

QuantumScape Price Performance

The company has a current ratio of 10.38, a quick ratio of 10.38 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $5.80 and a 200 day simple moving average of $6.38. The stock has a market cap of $2.69 billion, a P/E ratio of -5.65 and a beta of 4.74.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the prior year, the company posted ($0.25) earnings per share. On average, analysts forecast that QuantumScape Co. will post -0.9 earnings per share for the current year.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total transaction of $226,329.78. Following the sale, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QuantumScape news, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now owns 731,629 shares in the company, valued at $4,514,150.93. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the transaction, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The disclosure for this sale can be found here. Insiders have sold a total of 125,661 shares of company stock worth $785,018 in the last 90 days. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of QuantumScape by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock worth $207,306,000 after purchasing an additional 796,723 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after acquiring an additional 3,004,964 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of QuantumScape by 10.3% during the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after acquiring an additional 251,186 shares during the last quarter. Norges Bank purchased a new stake in shares of QuantumScape during the fourth quarter valued at approximately $18,482,000. Finally, Board of Trustees of The Leland Stanford Junior University increased its position in shares of QuantumScape by 5.2% during the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock valued at $18,144,000 after acquiring an additional 129,239 shares during the last quarter. 29.87% of the stock is owned by hedge funds and other 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.