QuantumScape (NYSE:QS) Shares Down 10.8% - Time to Sell?

QuantumScape Corporation (NYSE:QS - Get Free Report) was down 10.8% during trading on Monday . The stock traded as low as $11.56 and last traded at $13.07. Approximately 71,480,416 shares were traded during mid-day trading, an increase of 341% from the average daily volume of 16,204,233 shares. The stock had previously closed at $14.64.

Wall Street Analyst Weigh In

QS has been the subject of a number of recent analyst reports. Robert W. Baird dropped their price objective on QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group cut their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. UBS Group downgraded QuantumScape from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th. Finally, TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to MarketBeat.com, QuantumScape presently has a consensus rating of "Hold" and a consensus price target of $5.19.

QuantumScape Stock Down 14.2%

The stock has a market cap of $7.02 billion, a price-to-earnings ratio of -13.80 and a beta of 4.42. The firm's 50 day moving average is $5.82 and its two-hundred day moving average is $5.02. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period in the previous year, the business posted ($0.24) EPS. On average, sell-side analysts predict that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Activity at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 864,708 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $7.02, for a total value of $6,070,250.16. Following the sale, the director owned 81,364 shares of the company's stock, valued at $571,175.28. This trade represents a 91.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mohit Singh sold 465,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the transaction, the insider directly owned 1,641,711 shares of the company's stock, valued at $13,478,447.31. This represents a 22.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,589,468 shares of company stock valued at $18,114,411 over the last ninety days. Insiders own 12.03% of the company's stock.

Institutional Trading of QuantumScape

Several hedge funds have recently added to or reduced their stakes in QS. Signaturefd LLC grew its holdings in shares of QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after purchasing an additional 5,841 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in QuantumScape during the fourth quarter worth approximately $26,000. Federated Hermes Inc. lifted its position in shares of QuantumScape by 660.0% during the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock valued at $26,000 after acquiring an additional 5,438 shares during the period. Hollencrest Capital Management boosted its holdings in QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in QuantumScape during the 4th quarter valued at $29,000. Institutional investors and hedge funds 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.

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