Shares of QuantumScape Co. (NYSE:QS - Get Free Report) dropped 0.2% on Wednesday . The company traded as low as $5.37 and last traded at $5.41. Approximately 942,502 shares changed hands during trading, a decline of 90% from the average daily volume of 9,231,359 shares. The stock had previously closed at $5.42.
Wall Street Analyst Weigh In
A number of brokerages have commented on QS. Truist Financial reduced their target price 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 increased their target price 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. Finally, UBS Group cut their price target on shares of QuantumScape from $9.00 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, QuantumScape currently has a consensus rating of "Hold" and a consensus target price of $6.09.
Check Out Our Latest Research Report on QuantumScape
QuantumScape Price Performance
The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 10.38. The stock has a 50 day moving average of $5.88 and a 200-day moving average of $6.41. The company has a market cap of $2.68 billion, a PE ratio of -5.63 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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.04). During the same quarter in the prior year, the business posted ($0.25) EPS. Equities analysts predict that QuantumScape Co. will post -0.95 earnings per share for the current year.
Insider Activity at QuantumScape
In related news, Director Jeffrey B. Straubel sold 69,309 shares of the company's stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the completion of the transaction, the director now owns 292,644 shares of the company's stock, valued at approximately $1,966,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total transaction of $465,756.48. Following the completion of the transaction, the director now owns 292,644 shares of the company's stock, valued at $1,966,567.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the transaction, the chief financial officer now directly owns 554,553 shares of the company's stock, valued at $3,626,776.62. The disclosure for this sale can be found here. Insiders sold a total of 194,970 shares of company stock worth $1,250,775 in the last three months. Company insiders own 10.18% of the company's stock.
Institutional Trading of QuantumScape
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of QuantumScape by 23.3% during the 3rd quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company's stock worth $194,221,000 after buying an additional 5,483,319 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company's stock worth $26,770,000 after acquiring an additional 3,004,964 shares during the last quarter. Norges Bank purchased a new stake in QuantumScape in the fourth quarter valued at $18,482,000. Baillie Gifford & Co. raised its position in QuantumScape by 53.6% in the third quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company's stock valued at $17,268,000 after purchasing an additional 900,249 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of QuantumScape during the 4th quarter worth $1,560,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.
About QuantumScape
(
Get Free Report)
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.
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