QuantumScape (NYSE:QS) Shares Down 0.7%

QuantumScape Co. (NYSE:QS) was down 0.7% during mid-day trading on Tuesday . The company traded as low as $5.34 and last traded at $5.46. Approximately 1,550,237 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 9,272,579 shares. The stock had previously closed at $5.50.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group decreased their price target on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Robert W. Baird lifted their price objective on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, Truist Financial lowered their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.09.

QuantumScape Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 18.98 and a quick ratio of 18.98. The business has a 50-day moving average of $5.90 and a 200-day moving average of $6.41. The company has a market capitalization of $2.69 billion, a P/E ratio of -5.69 and a beta of 4.77.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period in the prior year, the firm earned ($0.25) EPS. On average, sell-side analysts anticipate that QuantumScape Co. will post -0.95 EPS for the current year.

Insider Activity at QuantumScape

In other news, insider Michael O. Mccarthy III sold 21,840 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the transaction, the chief financial officer now directly owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the completion of the sale, the insider now owns 731,629 shares of the company’s stock, valued at approximately $4,514,150.93. The disclosure for this sale can be found here. Insiders sold a total of 194,970 shares of company stock worth $1,250,775 in the last quarter. 10.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in QuantumScape by 23.3% in the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock valued at $194,221,000 after purchasing an additional 5,483,319 shares during the last quarter. Norges Bank bought a new position in shares of QuantumScape during the 4th quarter worth approximately $18,482,000. Baillie Gifford & Co. lifted its position in QuantumScape by 53.6% during the third quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock valued at $17,268,000 after acquiring an additional 900,249 shares during the last quarter. Trexquant Investment LP acquired a new stake in QuantumScape in the fourth quarter valued at approximately $1,560,000. Finally, Duality Advisers LP boosted its stake in QuantumScape by 133.7% in the fourth quarter. Duality Advisers LP now owns 371,340 shares of the company’s stock valued at $2,581,000 after acquiring an additional 212,468 shares in 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.