QuantumScape (NYSE:QS) Stock Price Down 9.5% on Analyst Downgrade

QuantumScape Co. (NYSE:QS) shares fell 9.5% on Thursday after UBS Group lowered their price target on the stock from $9.00 to $5.00. UBS Group currently has a neutral rating on the stock. QuantumScape traded as low as $4.92 and last traded at $4.96. 6,020,750 shares changed hands during trading, a decline of 35% from the average session volume of 9,317,990 shares. The stock had previously closed at $5.48.

A number of other brokerages have also recently commented on QS. Robert W. Baird raised their price target on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Truist Financial decreased their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.30.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total value of $212,486.98. Following the completion of the transaction, the chief financial officer now owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The disclosure for this sale can be found here. Insiders have sold a total of 194,970 shares of company stock worth $1,250,775 over the last 90 days. Insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Hedge funds and other institutional investors have recently made changes to their positions in the company. Spire Wealth Management grew its holdings in shares of QuantumScape by 39.0% during 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. International Assets Investment Management LLC grew its holdings in shares of QuantumScape by 595.1% during 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. C M Bidwell & Associates Ltd. grew its holdings in shares of QuantumScape by 37.3% during the third 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 during the last quarter. CWM LLC grew its holdings in shares of QuantumScape by 31.1% during the third quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after purchasing an additional 1,794 shares during the last quarter. Finally, StepStone Group LP bought a new stake in shares of QuantumScape during the fourth quarter worth about $56,000. 29.87% of the stock is currently owned by institutional investors.

QuantumScape Stock Performance

The company has a market capitalization of $2.53 billion, a P/E ratio of -5.31 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. The company has a fifty day moving average price of $5.96 and a two-hundred day moving average price of $6.42.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period in the prior year, the business earned ($0.25) earnings per share. Equities analysts forecast that QuantumScape Co. will post -0.96 earnings per share for the current fiscal year.

About QuantumScape

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.