QuantumScape (NYSE:QS) Shares Down 2.5%

QuantumScape Co. (NYSE:QS - Get Free Report) shares fell 2.5% during trading on Thursday . The stock traded as low as $5.76 and last traded at $5.79. 1,932,244 shares changed hands during trading, a decline of 80% from the average session volume of 9,612,718 shares. The stock had previously closed at $5.94.

Analyst Upgrades and Downgrades

Several research firms have recently commented on QS. William Blair began coverage on QuantumScape in a research report on Monday, December 18th. They set a "market perform" rating for the company. Truist Financial raised 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. Finally, Robert W. Baird lifted their target price on QuantumScape from $5.00 to $8.00 and gave the company a "neutral" rating in a report on Thursday, February 15th. Three 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $6.71.

QuantumScape Price Performance

The company has a market capitalization of $3.00 billion, a PE ratio of -6.03 and a beta of 4.76. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $6.36 and a 200-day simple moving average of $6.49.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results 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 in the prior year, the firm earned ($0.25) earnings per share. Equities analysts anticipate that QuantumScape Co. will post -0.87 earnings per share for the current year.

Insiders Place Their Bets

In other 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 transaction of $465,756.48. Following the sale, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 transaction of $465,756.48. Following the sale, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The transaction 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 business's 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 sold 194,970 shares of company stock valued at $1,250,775 in the last ninety days. Insiders own 10.18% of the company's stock.

Hedge Funds Weigh In On QuantumScape

Several institutional investors have recently added to or reduced their stakes in the stock. Clear Street Markets LLC purchased a new stake in shares of QuantumScape during the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC boosted its stake in shares of QuantumScape by 49.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,142 shares of the company's stock worth $34,000 after acquiring an additional 1,704 shares in the last quarter. Spire Wealth Management boosted its stake in shares of QuantumScape by 39.0% during the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company's stock worth $35,000 after acquiring an additional 1,500 shares in the last quarter. Level Financial Advisors Inc. purchased a new stake in shares of QuantumScape during the 3rd quarter worth approximately $42,000. Finally, International Assets Investment Management LLC boosted its stake in shares of QuantumScape by 595.1% during the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company's stock worth $43,000 after acquiring an additional 5,296 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company's stock.

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.