QuantumScape (NYSE:QS) Shares Down 1.5% - Here's Why

Key Points

• QuantumScape's shares fell by 1.5%, closing at $8.96, with trading volume significantly lower than average.
• Equities analysts are divided on the stock, with price targets ranging from $2.50 to $11.00 and a consensus rating of "Hold."
• Insider transactions revealed a substantial 25% decrease in ownership for some executives, with 4 million shares sold recently.

QuantumScape Corporation (NYSE:QS - Get Free Report) shares were down 1.5% during trading on Friday . The company traded as low as $8.85 and last traded at $8.96. Approximately 4,825,319 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 24,515,576 shares. The stock had previously closed at $9.09.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Robert W. Baird lifted their price target on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. The Goldman Sachs Group dropped their target price on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Finally, TD Cowen raised 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 issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.90.

QuantumScape Stock Up 0.1%

The company has a market cap of $5.15 billion, a PE ratio of -10.60 and a beta of 4.43. The business has a 50-day simple moving average of $8.05 and a 200-day simple moving average of $5.62. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million for the quarter. During the same period in the previous year, the company earned ($0.25) EPS. Equities research analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Transactions at QuantumScape

In related news, insider Michael O. Mccarthy III sold 500,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the completion of the sale, the insider directly owned 1,467,183 shares in the company, valued at approximately $17,019,322.80. The trade was a 25.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fritz Prinz sold 70,187 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $11.62, for a total value of $815,572.94. Following the completion of the transaction, the director directly owned 161,343 shares of the company's stock, valued at approximately $1,874,805.66. This represents a 30.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,089,468 shares of company stock valued at $35,534,411. 5.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of QuantumScape by 9.0% in the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after purchasing an additional 2,911,362 shares during the period. Geode Capital Management LLC grew its holdings in shares of QuantumScape by 12.5% during the 2nd quarter. Geode Capital Management LLC now owns 6,914,680 shares of the company's stock worth $46,475,000 after purchasing an additional 768,070 shares during the period. Dimensional Fund Advisors LP increased its position in shares of QuantumScape by 55.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock worth $30,183,000 after purchasing an additional 2,066,844 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in QuantumScape by 456.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock valued at $19,799,000 after buying an additional 3,904,168 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of QuantumScape by 148.0% in the second quarter. Bank of America Corp DE now owns 2,803,989 shares of the company's stock valued at $18,843,000 after buying an additional 1,673,472 shares in the last quarter. Hedge funds and other institutional investors 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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