QuantumScape (NYSE:QS) Trading Down 2% - What's Next?

Key Points

• QuantumScape's shares fell by 2%, trading at $8.17 after previously closing at $8.33, with a notable 86% decline in trading volume from the average.
• Analysts have mixed views, with TD Cowen raising their rating to "hold" and a price target increased to $11.00, while the average analyst rating remains a "Reduce" with a target of $5.90.
• Insider selling increased significantly, with notable transactions including Michael O. McCarthy III offloading 500,000 shares at an average price of $11.60, representing a 25.42% decrease in their position.

QuantumScape Corporation (NYSE:QS - Get Free Report)'s stock price was down 2% during mid-day trading on Wednesday . The company traded as low as $8.16 and last traded at $8.17. Approximately 3,424,857 shares were traded during trading, a decline of 86% from the average daily volume of 24,073,680 shares. The stock had previously closed at $8.33.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on QS shares. Robert W. Baird lifted their target price on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. TD Cowen upgraded QuantumScape to a "hold" rating in a research report on Monday, July 7th. Seven equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $5.90.

QuantumScape Trading Down 2.4%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. The company has a 50-day simple moving average of $8.89 and a 200 day simple moving average of $5.87. The company has a market capitalization of $4.47 billion, a P/E ratio of -9.19 and a beta of 4.43.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $36.67 million during the quarter. During the same quarter in the prior year, the company posted ($0.25) earnings per share. Sell-side analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Transactions at QuantumScape

In other news, Director Fritz Prinz sold 929,813 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the sale, the director directly owned 161,343 shares in the company, valued at approximately $1,874,805.66. The trade was a 85.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael O. Mccarthy III sold 500,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $11.60, for a total value of $5,800,000.00. Following the sale, the insider owned 1,467,183 shares in the company, valued at approximately $17,019,322.80. This represents a 25.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,956,517 shares of company stock valued at $34,977,013. Company insiders own 5.48% of the company's stock.

Institutional Trading of QuantumScape

Several large investors have recently added to or reduced their stakes in QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 worth $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Vanguard Group Inc. lifted its stake in 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 buying an additional 2,911,362 shares during the period. BNP Paribas Financial Markets lifted its stake in QuantumScape by 2,036.7% in the second quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company's stock valued at $16,483,000 after buying an additional 2,338,038 shares during the period. Dimensional Fund Advisors LP lifted its stake in QuantumScape by 55.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock valued at $30,183,000 after buying an additional 2,066,844 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in QuantumScape by 1,005.2% in the second quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company's stock valued at $13,323,000 after buying an additional 1,803,196 shares during the period. 29.87% of the stock is owned by institutional investors.

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.