QuantumScape (NYSE:QS) Shares Down 5.3% - Time to Sell?

Key Points

• QuantumScape shares fell 5.3% to about $4.22 in mid-day trading, with volume 17% above the average session volume.
• Analyst sentiment is mostly neutral: six analysts rate the stock Hold, with an average price target of $7.36. Several firms recently lowered their targets, including Morgan Stanley, which cut its objective to $4.50.
• The company reported a quarterly loss of $0.14 per share, narrower than the $0.17 loss analysts expected; insiders sold about 294,600 shares over the past quarter.

QuantumScape Corporation (NYSE:QS - Get Free Report) shares traded down 5.3% during mid-day trading on Wednesday. The stock traded as low as $4.26 and last traded at $4.2150. 21,300,938 shares traded hands during trading, an increase of 17% from the average session volume of 18,249,012 shares. The stock had previously closed at $4.45.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on QS shares. Robert W. Baird decreased their target price on QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, October 22nd. William Blair raised QuantumScape to a "hold" rating in a research note on Thursday, October 22nd. TD Cowen cut their price target on shares of QuantumScape from $8.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, July 24th. Finally, Morgan Stanley reduced their price objective on shares of QuantumScape from $8.50 to $4.50 and set an "equal weight" rating on the stock in a research report on Thursday, October 15th. Six analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $7.36.

QuantumScape Trading Down 5.3%

The company has a market cap of $2.62 billion, a PE ratio of -5.19 and a beta of 2.83. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $4.61 and a 200 day moving average price of $6.47.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. QuantumScape's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) earnings per share. Sell-side analysts predict that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In related news, CTO Timothy Holme sold 45,000 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $4.54, for a total value of $204,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 294,599 shares of company stock valued at $1,473,271. 3.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently bought and sold shares of QS. TD Waterhouse Canada Inc. lifted its holdings in shares of QuantumScape by 101.5% during the second quarter. TD Waterhouse Canada Inc. now owns 5,361 shares of the company's stock valued at $41,000 after purchasing an additional 2,700 shares during the last quarter. Optas LLC purchased a new stake in shares of QuantumScape in the 3rd quarter worth approximately $50,000. Vestor Capital LLC grew its stake in shares of QuantumScape by 255.2% in the 1st quarter. Vestor Capital LLC now owns 8,000 shares of the company's stock worth $51,000 after buying an additional 5,748 shares during the last quarter. R Squared Ltd purchased a new stake in shares of QuantumScape in the 3rd quarter worth approximately $53,000. Finally, Apollon Wealth Management LLC bought a new position in QuantumScape during the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 29.87% of the company's stock.

QuantumScape Company Profile

QuantumScape Corporation develops solid-state lithium-metal battery technology, primarily for use in electric vehicles. Its battery design replaces the conventional liquid electrolyte found in many lithium-ion batteries with a solid separator, with the goal of supporting higher energy density, faster charging and improved safety. Founded in 2010 and headquartered in San Jose, California, the company focuses on researching, testing and scaling its battery technology rather than selling mass-market batteries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.