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

QuantumScape Corporation (NYSE:QS) shares were down 6.8% during mid-day trading on Thursday . The stock traded as low as $15.83 and last traded at $15.91. Approximately 23,560,676 shares changed 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 equities analysts have recently issued reports on QS shares. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on QuantumScape and gave the company a “hold” rating in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. TD Cowen boosted their target price on QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, October 30th. Robert W. Baird boosted their target price on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Cowen restated a “hold” rating on shares of QuantumScape in a research note on Thursday, October 30th. Eight investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $7.66.

QuantumScape Stock Performance

The company has a market cap of $9.57 billion, a price-to-earnings ratio of -19.64 and a beta of 4.83. 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 firm has a 50-day simple moving average of $13.13 and a 200 day simple moving average of $8.88.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of ($36.67) million during the quarter. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. On average, sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey B. Straubel sold 157,180 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Timothy Holme sold 176,352 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $7.55, for a total value of $1,331,457.60. Following the transaction, the chief technology officer directly owned 1,445,304 shares in the company, valued at $10,912,045.20. This represents a 10.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,844,134 shares of company stock valued at $41,397,924. 5.48% of the stock is owned by company insiders.

Institutional Trading of QuantumScape

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