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

Shares of QuantumScape Corporation (NYSE:QS) traded down 6.8% during trading on Monday . The stock traded as low as $7.40 and last traded at $7.4640. 5,279,772 shares were traded during mid-day trading, a decline of 69% from the average session volume of 16,815,533 shares. The stock had previously closed at $8.01.

Analyst Ratings Changes

A number of research analysts have recently weighed in on QS shares. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and cut their price objective for the company from $10.50 to $8.30 in a research report on Wednesday, February 18th. Robert W. Baird set a $12.00 price objective on QuantumScape in a research report on Thursday, February 12th. Morgan Stanley cut their price objective on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Finally, TD Cowen restated a “hold” rating on shares of QuantumScape in a research report on Wednesday, February 18th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $11.13.

QuantumScape Trading Down 9.1%

The stock has a market cap of $4.48 billion, a PE ratio of -8.97 and a beta of 2.57. The stock has a 50-day moving average price of $6.98 and a two-hundred day moving average price of $9.62. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. During the same period in the previous year, the business posted ($0.21) earnings per share. Sell-side analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Timothy Holme sold 127,077 shares of QuantumScape stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $7.10, for a total value of $902,246.70. Following the completion of the transaction, the chief technology officer owned 1,122,348 shares in the company, valued at approximately $7,968,670.80. This trade represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mohit Singh sold 50,000 shares of QuantumScape 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 owned 1,803,035 shares of the company’s stock, valued at approximately $14,189,885.45. This represents a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 744,031 shares of company stock worth $5,089,859. Corporate insiders own 5.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new position in QuantumScape during the 1st quarter valued at about $321,000. NewEdge Advisors LLC boosted its position in shares of QuantumScape by 50.4% during the first quarter. NewEdge Advisors LLC now owns 21,224 shares of the company’s stock valued at $88,000 after buying an additional 7,111 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock valued at $19,799,000 after buying an additional 3,904,168 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of QuantumScape by 41.4% during the second quarter. Prudential Financial Inc. now owns 31,439 shares of the company’s stock valued at $211,000 after buying an additional 9,210 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after buying an additional 3,311 shares during the last quarter. Hedge funds and other institutional investors 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.