QuantumScape (NYSE:QS) Shares Down 3.1%

QuantumScape Co. (NYSE:QS - Get Free Report) dropped 3.1% during mid-day trading on Tuesday . The stock traded as low as $5.89 and last traded at $5.94. Approximately 2,423,659 shares were traded during trading, a decline of 76% from the average daily volume of 10,000,766 shares. The stock had previously closed at $6.13.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on QS. Truist Financial increased their price target on QuantumScape from $7.00 to $8.00 and gave the stock a "hold" rating in a research report on Friday, February 16th. William Blair began coverage on QuantumScape in a research report on Monday, December 18th. They set a "market perform" rating on the stock. HSBC began coverage on QuantumScape in a research report on Monday, December 4th. They set a "reduce" rating and a $4.70 price target on the stock. Finally, Robert W. Baird increased 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. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.71.

QuantumScape Price Performance

The firm has a market capitalization of $2.93 billion, a P/E ratio of -6.15 and a beta of 4.77. The business has a fifty day moving average of $6.48 and a 200-day moving average of $6.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98.

QuantumScape (NYSE:QS - Get Free Report) last issued 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 period last year, the company earned ($0.25) earnings per share. On average, sell-side analysts forecast that QuantumScape Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $6.51, for a total transaction of $225,291.57. Following the completion of the transaction, the chief financial officer now directly owns 575,936 shares of the company's stock, valued at approximately $3,749,343.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Kevin Hettrich sold 34,607 shares of the firm's stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $6.51, for a total transaction of $225,291.57. Following the completion of the sale, the chief financial officer now directly owns 575,936 shares of the company's stock, valued at approximately $3,749,343.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael O. Mccarthy III sold 21,840 shares of the firm's stock in a transaction on Monday, February 26th. The stock was 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 of the company's stock, valued at $4,514,150.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,970 shares of company stock valued at $3,116,899. 10.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Several large investors have recently modified their holdings of QS. Clear Street Markets LLC purchased a new stake in shares of QuantumScape in the fourth quarter valued at $32,000. Tower Research Capital LLC TRC lifted 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 valued at $34,000 after purchasing an additional 1,704 shares in the last quarter. Spire Wealth Management lifted 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 valued at $35,000 after purchasing an additional 1,500 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of QuantumScape in the second quarter valued at $39,000. Finally, Level Financial Advisors Inc. purchased a new stake in shares of QuantumScape in the third quarter valued at $42,000. 29.87% of the stock is owned by institutional investors.

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.