QuantumScape (NYSE:QS) Shares Down 2.8% on Analyst Downgrade

Shares of QuantumScape Co. (NYSE:QS) fell 2.8% on Monday after Truist Financial lowered their price target on the stock from $8.00 to $6.00. Truist Financial currently has a hold rating on the stock. QuantumScape traded as low as $5.18 and last traded at $5.21. 2,668,143 shares changed hands during trading, a decline of 72% from the average session volume of 9,377,897 shares. The stock had previously closed at $5.36.

Separately, Robert W. Baird lifted their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.46.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $6.14, for a total value of $212,486.98. Following the sale, the chief financial officer now directly owns 1,178,512 shares in the company, valued at $7,236,063.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QuantumScape news, 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 value of $134,752.80. Following the sale, the insider now directly owns 731,629 shares in the company, valued at $4,514,150.93. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $6.14, for a total transaction of $212,486.98. Following the completion of the sale, the chief financial officer now owns 1,178,512 shares in the company, valued at $7,236,063.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,970 shares of company stock worth $1,250,775. 10.18% of the stock is owned by insiders.

Institutional Investors Weigh In On QuantumScape

Hedge funds and other institutional investors have recently bought and sold shares of the business. Spire Wealth Management increased its stake in QuantumScape by 39.0% in the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. Level Financial Advisors Inc. purchased a new position in QuantumScape in the 3rd quarter worth about $42,000. International Assets Investment Management LLC increased its stake in QuantumScape by 595.1% in the 4th 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 in the last quarter. C M Bidwell & Associates Ltd. increased its stake in QuantumScape by 37.3% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,835 shares in the last quarter. Finally, CWM LLC increased its stake in QuantumScape by 31.1% in the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after purchasing an additional 1,794 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors.

QuantumScape Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98. The stock has a 50 day moving average of $6.05 and a two-hundred day moving average of $6.44. The stock has a market cap of $2.77 billion, a PE ratio of -5.82 and a beta of 4.77.

QuantumScape (NYSE:QS) last issued 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 in the prior year, the business posted ($0.25) earnings per share. Equities analysts anticipate that QuantumScape Co. will post -0.87 EPS for the current year.

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.