QuantumScape (NYSE:QS) Shares Down 2.8% After Analyst Downgrade

QuantumScape Co. (NYSE:QS - Get Free Report) shares were down 2.8% during trading on Monday after Truist Financial lowered their price target on the stock from $8.00 to $6.00. Truist Financial currently has a hold rating on the stock. QuantumScape traded as low as $5.18 and last traded at $5.21. Approximately 2,668,143 shares traded hands during trading, a decline of 72% from the average daily volume of 9,377,897 shares. The stock had previously closed at $5.36.

Separately, Robert W. Baird boosted their target price on QuantumScape from $5.00 to $8.00 and gave the stock a "neutral" rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $6.46.

Insider Transactions at QuantumScape

In related news, insider Michael O. Mccarthy III sold 21,840 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the transaction, the insider now owns 731,629 shares in the company, valued at approximately $4,514,150.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QuantumScape news, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape stock in a transaction on Monday, February 26th. The shares were sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares in the company, valued at $4,514,150.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the 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 sale, the chief financial officer now owns 554,553 shares of the company's stock, valued at approximately $3,626,776.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,970 shares of company stock worth $1,250,775. 10.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

Hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management boosted its stake 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 buying 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. International Assets Investment Management LLC increased its stake in QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company's stock valued at $43,000 after purchasing an additional 5,296 shares in the last quarter. C M Bidwell & Associates Ltd. increased its position in shares of QuantumScape by 37.3% in the third quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company's stock valued at $45,000 after buying an additional 1,835 shares in the last quarter. Finally, CWM LLC raised its position in QuantumScape by 31.1% during the third quarter. CWM LLC now owns 7,555 shares of the company's stock worth $51,000 after acquiring an additional 1,794 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Stock Up 0.5 %

The company has a market cap of $2.67 billion, a PE ratio of -5.59 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 firm has a 50-day simple moving average of $6.13 and a two-hundred day simple moving average of $6.45.

QuantumScape (NYSE:QS - Get Free Report) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same period in the previous year, the firm posted ($0.25) earnings per share. Research analysts anticipate that QuantumScape Co. will post -0.87 earnings per share for the current fiscal year.

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.