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

QuantumScape Co. (NYSE:QS - Get Free Report) hit a new 52-week low 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 changing hands. The stock had previously closed at $5.48.

Several other equities research analysts also recently weighed in on the stock. Truist Financial reduced their price target on shares of QuantumScape from $8.00 to $6.00 and set a "hold" rating for the company in a research report on Monday. Robert W. Baird raised their price target on shares of QuantumScape from $5.00 to $8.00 and gave the company a "neutral" rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $6.30.

Insider Buying and Selling

In other news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total transaction of $226,329.78. Following the transaction, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,970 shares of company stock worth $1,250,775. 10.18% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of QS. Armor Investment Advisors LLC increased its holdings in QuantumScape by 48.0% in the 1st quarter. Armor Investment Advisors LLC now owns 82,832 shares of the company's stock valued at $521,000 after acquiring an additional 26,846 shares during the last quarter. Oak Harbor Wealth Partners LLC increased its holdings in QuantumScape by 99.6% in the 1st quarter. Oak Harbor Wealth Partners LLC now owns 143,499 shares of the company's stock valued at $903,000 after acquiring an additional 71,600 shares during the last quarter. PFG Investments LLC bought a new stake in QuantumScape in the 1st quarter valued at $102,000. HighPoint Advisor Group LLC bought a new stake in QuantumScape in the 4th quarter valued at $97,000. Finally, Vanguard Group Inc. increased its holdings in QuantumScape by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company's stock valued at $207,306,000 after acquiring an additional 796,723 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors.

QuantumScape Stock Performance

The business's fifty day moving average price is $5.96 and its two-hundred day moving average price is $6.42. 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 market capitalization of $2.53 billion, a P/E ratio of -5.31 and a beta of 4.76.

QuantumScape (NYSE:QS - Get Free Report) last posted 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 period in the previous year, the company posted ($0.25) EPS. As a group, sell-side analysts forecast that QuantumScape Co. will post -0.96 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.