QuantumScape (NYSE:QS) Sets New 1-Year Low - What's Next?

Key Points

• QuantumScape shares fell to a new 52-week low of $4.46, trading below both their 50-day and 200-day moving averages. The company has a market capitalization of about $2.8 billion and a high beta of 2.83.
• TD Cowen cut its price target from $8 to $6 and maintained a “hold” rating. Analysts collectively rate the stock “Reduce,” with an average price target of $9.47.
• QuantumScape reported a quarterly loss of $0.16 per share, slightly better than the expected $0.18 loss, but analysts anticipate a full-year loss of $0.82 per share. Insiders have sold nearly 175,000 shares over the past 90 days.

QuantumScape Corporation (NYSE:QS - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $4.46 and last traded at $4.4940, with a volume of 1061236 shares. The stock had previously closed at $4.57.

Analyst Ratings Changes

Separately, TD Cowen dropped their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "hold" rating for the company in a research note on Friday, July 24th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $9.47.

QuantumScape Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The business has a 50-day simple moving average of $5.42 and a 200-day simple moving average of $6.56. The firm has a market capitalization of $2.80 billion, a PE ratio of -5.59 and a beta of 2.83.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. The business's revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.20) earnings per share. Equities research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QuantumScape news, CTO Timothy Holme sold 75,000 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $5.09, for a total transaction of $381,750.00. Following the transaction, the chief technology officer owned 1,583,075 shares in the company, valued at $8,057,851.75. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 174,599 shares of company stock worth $928,471 over the last ninety days. 3.93% of the stock is owned by insiders.

Institutional Investors Weigh In On QuantumScape

Institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. boosted its stake in shares of QuantumScape by 23.7% during the 2nd quarter. QRG Capital Management Inc. now owns 14,316 shares of the company's stock worth $108,000 after purchasing an additional 2,746 shares during the period. Maven Securities LTD bought a new stake in QuantumScape in the second quarter worth about $664,000. NewEdge Advisors LLC lifted its stake in QuantumScape by 15.6% in the second quarter. NewEdge Advisors LLC now owns 73,905 shares of the company's stock worth $559,000 after purchasing an additional 9,995 shares during the last quarter. Arizona State Retirement System boosted its position in shares of QuantumScape by 10.5% during the second quarter. Arizona State Retirement System now owns 126,992 shares of the company's stock valued at $960,000 after buying an additional 12,081 shares during the period. Finally, Nykredit A S bought a new position in shares of QuantumScape during the second quarter valued at approximately $112,000. Institutional investors own 29.87% of the company's stock.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries for electric vehicles and other applications. Its technology is designed to replace conventional lithium-ion battery components, including the graphite anode, with a lithium-metal anode and a solid ceramic separator.

The company is developing battery cells intended to offer higher energy density, faster charging, improved safety and longer operating range than many conventional lithium-ion batteries.

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