QuantumScape (NYSE:QS) Sets New 12-Month Low – Here’s What Happened

QuantumScape Corporation (NYSE:QS)’s share price reached a new 52-week low during trading on Friday. The company traded as low as $3.69 and last traded at $3.6650, with a volume of 3,127,126 shares. The stock had previously closed at $3.88.

Analysts Set New Price Targets

Several brokerages recently commented on QS. Morgan Stanley reduced their target price on QuantumScape from $8.50 to $4.50 and set an “equal weight” rating on the stock in a report on Thursday, October 15th. Robert W. Baird dropped their price target on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, October 22nd. William Blair raised shares of QuantumScape to a “hold” rating in a research note on Thursday, October 22nd. Finally, TD Cowen dropped their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, July 24th. Six research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.36.

QuantumScape Stock Down 4.5%

The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -4.57 and a beta of 2.83. The firm has a 50 day moving average of $4.55 and a 200 day moving average of $6.40. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 21st. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. The firm’s revenue was up .0% on a year-over-year basis. During the same period last year, the business earned ($0.18) earnings per share. As a group, sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Buying and Selling at QuantumScape

In related news, CTO Timothy Holme sold 45,000 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $4.54, for a total transaction of $204,300.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders have sold 294,599 shares of company stock valued at $1,473,271. Insiders own 3.93% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. boosted its position in shares of QuantumScape by 101.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,361 shares of the company’s stock worth $41,000 after purchasing an additional 2,700 shares in the last quarter. Optas LLC bought a new stake in QuantumScape in the 3rd quarter valued at about $50,000. Vestor Capital LLC raised its stake in QuantumScape by 255.2% during the 1st quarter. Vestor Capital LLC now owns 8,000 shares of the company’s stock worth $51,000 after buying an additional 5,748 shares during the period. R Squared Ltd acquired a new position in QuantumScape during the 3rd quarter worth approximately $53,000. Finally, Apollon Wealth Management LLC acquired a new position in QuantumScape during the 3rd quarter worth approximately $58,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Company Profile

QuantumScape Corporation develops solid-state lithium-metal battery technology, primarily for use in electric vehicles. Its battery design replaces the conventional liquid electrolyte found in many lithium-ion batteries with a solid separator, with the goal of supporting higher energy density, faster charging and improved safety. Founded in 2010 and headquartered in San Jose, California, the company focuses on researching, testing and scaling its battery technology rather than selling mass-market batteries.