QuantumScape (NYSE:QS) Reaches New 1-Year Low on Analyst Downgrade

Shares of QuantumScape Co. (NYSE:QS) hit a new 52-week low during trading 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 $4.97 and last traded at $5.04, with a volume of 4395625 shares trading hands. The stock had previously closed at $5.48.

QS has been the subject of a number of other reports. Truist Financial cut their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Robert W. Baird raised their target price on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.30.

Insiders Place Their Bets

In related news, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the completion of the transaction, the insider now directly owns 731,629 shares of the company’s stock, valued at approximately $4,514,150.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total transaction of $226,329.78. Following the completion of the transaction, the chief financial officer now owns 554,553 shares in the company, valued at $3,626,776.62. 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 ninety days. 10.18% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC grew its stake in QuantumScape by 31.1% in 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 in the last quarter. AE Wealth Management LLC purchased a new position in shares of QuantumScape during the third quarter valued at $74,000. SG Americas Securities LLC increased its stake in shares of QuantumScape by 67.8% during the third quarter. SG Americas Securities LLC now owns 67,842 shares of the company’s stock valued at $454,000 after buying an additional 27,412 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of QuantumScape by 5.7% in the third quarter. Commonwealth Equity Services LLC now owns 357,782 shares of the company’s stock valued at $2,394,000 after acquiring an additional 19,431 shares in the last quarter. Finally, Armor Investment Advisors LLC lifted its stake in QuantumScape by 10.6% in the third quarter. Armor Investment Advisors LLC now owns 44,740 shares of the company’s stock worth $299,000 after acquiring an additional 4,303 shares during the period. Institutional investors own 29.87% of the company’s stock.

QuantumScape Trading Up 5.6 %

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 company has a market capitalization of $2.67 billion, a P/E ratio of -5.61 and a beta of 4.76. The company’s fifty day simple moving average is $5.93 and its 200-day simple moving average is $6.42.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same quarter in the previous year, the company posted ($0.25) EPS. Research analysts predict that QuantumScape Co. will post -0.93 earnings per share for the current 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.