QuantumScape (NYSE:QS) Stock Price Down 3.3%

Shares of QuantumScape Co. (NYSE:QS - Get Free Report) dropped 3.3% during trading on Thursday . The company traded as low as $5.80 and last traded at $5.82. Approximately 1,340,270 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 8,869,876 shares. The stock had previously closed at $6.02.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial reduced their price objective 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. UBS Group lowered their target price on QuantumScape from $9.00 to $5.00 and set a "neutral" rating for the company in a research note on Thursday, April 25th. Finally, Robert W. Baird upped their price target on QuantumScape from $5.00 to $8.00 and gave the stock a "neutral" rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, QuantumScape presently has an average rating of "Hold" and a consensus price target of $6.09.

QuantumScape Trading Down 3.5 %

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 market cap of $2.90 billion, a P/E ratio of -6.05 and a beta of 4.74. The stock's 50 day moving average is $5.77 and its 200-day moving average is $6.39.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). Research analysts anticipate that QuantumScape Co. will post -0.9 earnings per share for the current fiscal year.

Insider Activity

In other QuantumScape news, insider Michael O. Mccarthy III sold 21,840 shares of the firm's 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 directly owns 731,629 shares of the company's stock, valued at $4,514,150.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 transaction, the insider now directly owns 731,629 shares of the company's stock, valued at approximately $4,514,150.93. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $6.11, for a total value of $211,448.77. Following the sale, the chief financial officer now directly owns 556,302 shares of the company's stock, valued at approximately $3,399,005.22. The disclosure for this sale can be found here. Insiders sold 125,661 shares of company stock valued at $785,018 over the last three months. Insiders own 10.18% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of QuantumScape by 31.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 283,609 shares of the company's stock worth $1,897,000 after buying an additional 68,431 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of QuantumScape by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 927,473 shares of the company's stock worth $6,205,000 after buying an additional 44,616 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in QuantumScape by 26.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,595 shares of the company's stock valued at $372,000 after buying an additional 11,648 shares during the last quarter. Manhattan West Asset Management LLC grew its holdings in QuantumScape by 57.8% during the 3rd quarter. Manhattan West Asset Management LLC now owns 31,140 shares of the company's stock valued at $208,000 after buying an additional 11,400 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of QuantumScape by 19.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 24,411 shares of the company's stock worth $163,000 after acquiring an additional 3,974 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other 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.

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