QuantumScape (NYSE:QS) Stock Price Down 2.2%

QuantumScape Co. (NYSE:QS - Get Free Report)'s share price dropped 2.2% on Tuesday . The stock traded as low as $5.66 and last traded at $5.70. Approximately 944,231 shares traded hands during trading, a decline of 90% from the average daily volume of 9,019,479 shares. The stock had previously closed at $5.83.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Robert W. Baird lifted their price target on shares of QuantumScape from $5.00 to $8.00 and gave the company a "neutral" rating in a report on Thursday, February 15th. UBS Group cut their price target on shares of QuantumScape from $9.00 to $5.00 and set a "neutral" rating for the company in a report on Thursday, April 25th. Finally, Truist Financial reduced their target price on shares of QuantumScape from $8.00 to $6.00 and set a "hold" rating on the stock in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.09.

QuantumScape Price Performance

The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -5.81 and a beta of 4.74. The company has a current ratio of 10.38, a quick ratio of 10.38 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $5.83 and a 200 day moving average of $6.39.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the previous year, the business earned ($0.25) earnings per share. Equities research analysts predict that QuantumScape Co. will post -0.9 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $6.14, for a total value of $212,486.98. Following the sale, the chief financial officer now owns 1,178,512 shares of the company's stock, valued at $7,236,063.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $6.14, for a total transaction 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 $7,236,063.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now owns 731,629 shares of the company's stock, valued at approximately $4,514,150.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,661 shares of company stock valued at $785,018. 10.18% of the stock is owned by insiders.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently bought and sold shares of QS. Vanguard Group Inc. boosted its holdings in shares of QuantumScape by 23.3% during the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company's stock worth $194,221,000 after acquiring an additional 5,483,319 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 period. Norges Bank bought a new stake in shares of QuantumScape during the fourth quarter worth approximately $18,482,000. Baillie Gifford & Co. boosted its holdings in shares of QuantumScape by 53.6% during the third quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company's stock worth $17,268,000 after acquiring an additional 900,249 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of QuantumScape during the fourth quarter worth approximately $1,560,000. Institutional investors 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.