QuantumScape (NYSE:QS) Sets New 12-Month Low at $6.71

QuantumScape Co. (NYSE:QSGet Rating)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $6.71 and last traded at $6.73, with a volume of 37593 shares changing hands. The stock had previously closed at $6.86.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley cut shares of QuantumScape from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $12.00 to $4.00 in a research report on Wednesday, November 9th. Truist Financial initiated coverage on shares of QuantumScape in a research report on Wednesday, September 28th. They issued a “hold” rating and a $10.00 target price on the stock. The Goldman Sachs Group decreased their target price on shares of QuantumScape from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of QuantumScape from $20.00 to $13.00 in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.29.

QuantumScape Price Performance

The business’s 50-day simple moving average is $8.51 and its 200-day simple moving average is $10.03. The stock has a market cap of $3.09 billion, a PE ratio of -8.13 and a beta of 5.58. The company has a quick ratio of 25.68, a current ratio of 25.68 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 12,750 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $10.66, for a total value of $135,915.00. Following the transaction, the insider now owns 302,157 shares in the company, valued at $3,220,993.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QuantumScape news, insider Mohit Singh sold 12,750 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $10.66, for a total value of $135,915.00. Following the transaction, the insider now owns 302,157 shares in the company, valued at $3,220,993.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 36,757 shares of QuantumScape stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $12.62, for a total transaction of $463,873.34. Following the sale, the insider now directly owns 446,036 shares in the company, valued at approximately $5,628,974.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,229 shares of company stock worth $2,355,826. 13.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuantumScape

A number of large investors have recently modified their holdings of QS. Capricorn Investment Group LLC bought a new stake in shares of QuantumScape during the 2nd quarter valued at about $303,140,000. KPCB XIV Associates LLC bought a new stake in QuantumScape during the second quarter worth about $43,556,000. Vanguard Group Inc. boosted its stake in QuantumScape by 11.9% during the third quarter. Vanguard Group Inc. now owns 20,555,744 shares of the company’s stock worth $172,874,000 after acquiring an additional 2,178,359 shares in the last quarter. Renaissance Technologies LLC boosted its stake in QuantumScape by 125.3% during the second quarter. Renaissance Technologies LLC now owns 1,664,500 shares of the company’s stock worth $14,298,000 after acquiring an additional 925,800 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in QuantumScape by 22.4% during the third quarter. Two Sigma Investments LP now owns 4,275,001 shares of the company’s stock worth $35,953,000 after acquiring an additional 782,558 shares in the last quarter. Institutional investors own 25.44% of the company’s stock.

QuantumScape Company Profile

(Get Rating)

QuantumScape Corporation, a 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.

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