QuantumScape (NYSE:QS) Trading Down 2%

QuantumScape Co. (NYSE:QS)’s stock price dropped 2% on Friday . The company traded as low as $5.86 and last traded at $5.93. Approximately 1,443,858 shares were traded during trading, a decline of 85% from the average daily volume of 9,557,548 shares. The stock had previously closed at $6.05.

Analyst Upgrades and Downgrades

QS has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. William Blair began coverage on shares of QuantumScape in a report on Monday, December 18th. They issued a “market perform” rating on the stock. Finally, Truist Financial increased their price target on shares of QuantumScape from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.71.

QuantumScape Price Performance

The business’s 50 day moving average is $6.32 and its two-hundred day moving average is $6.49. The firm has a market capitalization of $2.88 billion, a PE ratio of -6.05 and a beta of 4.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.98 and a quick ratio of 18.98.

QuantumScape (NYSE:QS) last announced its earnings results 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 quarter last year, the firm earned ($0.25) EPS. As a group, research analysts anticipate that QuantumScape Co. will post -0.87 EPS for the current year.

Insider Activity at QuantumScape

In related news, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $6.72, for a total value of $465,756.48. Following the sale, the director now directly owns 292,644 shares of the company’s stock, valued at $1,966,567.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other QuantumScape news, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total transaction of $465,756.48. Following the transaction, the director now directly owns 292,644 shares in the company, valued at $1,966,567.68. The disclosure for this sale can be found here. Insiders have sold 194,970 shares of company stock valued at $1,250,775 over the last three months. 10.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in QS. Clear Street Markets LLC purchased a new position in shares of QuantumScape during the fourth quarter worth approximately $32,000. Tower Research Capital LLC TRC grew its holdings in shares of QuantumScape by 49.6% in the third quarter. Tower Research Capital LLC TRC now owns 5,142 shares of the company’s stock worth $34,000 after purchasing an additional 1,704 shares during the last quarter. Spire Wealth Management grew its holdings in shares of QuantumScape by 39.0% in the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares during the last quarter. Level Financial Advisors Inc. bought a new position in shares of QuantumScape in the third quarter worth approximately $42,000. Finally, International Assets Investment Management LLC grew its holdings in shares of QuantumScape by 595.1% in the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after purchasing an additional 5,296 shares during 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.