QuantumScape Corporation (NYSE:QS - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 11,265,620 shares were traded during mid-day trading, a decline of 21% from the previous session's volume of 14,213,701 shares.The stock last traded at $7.85 and had previously closed at $7.01.
Analyst Ratings Changes
A number of equities analysts recently commented on QS shares. UBS Group lowered QuantumScape from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Robert W. Baird reduced their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research report on Monday. Finally, The Goldman Sachs Group cut their price target on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, QuantumScape has an average rating of "Hold" and a consensus price target of $5.19.
Read Our Latest Stock Report on QS
QuantumScape Stock Performance
The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. The company's 50 day moving average price is $5.00 and its 200-day moving average price is $4.80. The stock has a market cap of $5.15 billion, a P/E ratio of -10.13 and a beta of 4.42.
QuantumScape (NYSE:QS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same quarter in the previous year, the company earned ($0.24) EPS. Equities analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Mohit Singh sold 465,000 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total value of $3,817,650.00. Following the sale, the insider directly owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. This represents a 22.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Fritz Prinz sold 864,708 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $7.02, for a total transaction of $6,070,250.16. Following the completion of the sale, the director owned 81,364 shares in the company, valued at $571,175.28. This represents a 91.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,589,468 shares of company stock worth $18,114,411 over the last 90 days. Corporate insiders own 12.03% of the company's stock.
Institutional Investors Weigh In On QuantumScape
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its position in shares of QuantumScape by 39.7% in the second quarter. Farther Finance Advisors LLC now owns 21,400 shares of the company's stock valued at $144,000 after acquiring an additional 6,084 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in QuantumScape by 22.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,881 shares of the company's stock valued at $245,000 after purchasing an additional 6,413 shares during the period. Parallel Advisors LLC raised its position in QuantumScape by 91.4% during the 2nd quarter. Parallel Advisors LLC now owns 11,083 shares of the company's stock valued at $74,000 after purchasing an additional 5,292 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock worth $19,799,000 after buying an additional 3,904,168 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of QuantumScape by 50.4% in the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company's stock worth $88,000 after buying an additional 7,111 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.
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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