QuantumScape Corporation (NYSE:QS - Get Free Report)'s stock price dropped 2% during trading on Wednesday . The stock traded as low as $9.24 and last traded at $9.17. Approximately 8,076,193 shares were traded during trading, a decline of 67% from the average daily volume of 24,531,865 shares. The stock had previously closed at $9.35.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. TD Cowen raised shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. The Goldman Sachs Group lowered their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research report on Monday, April 28th. Finally, Robert W. Baird boosted their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $5.90.
View Our Latest Stock Analysis on QS
QuantumScape Price Performance
The firm's 50-day moving average price is $8.15 and its two-hundred day moving average price is $5.65. The stock has a market cap of $5.10 billion, a PE ratio of -10.48 and a beta of 4.43. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03.
QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $36.67 million during the quarter. During the same period in the previous year, the firm earned ($0.25) earnings per share. On average, equities analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.
Insider Activity
In related news, CTO Timothy Holme sold 358,330 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $7.03, for a total transaction of $2,519,059.90. Following the completion of the transaction, the chief technology officer owned 1,705,428 shares in the company, valued at $11,989,158.84. The trade was a 17.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 stock was sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the transaction, the insider owned 1,467,183 shares of the company's stock, valued at approximately $17,019,322.80. This trade represents a 25.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,089,468 shares of company stock worth $35,534,411. Insiders own 5.48% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of QS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in QuantumScape by 456.5% during 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 valued at $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Vanguard Group Inc. increased its stake 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 worth $147,064,000 after acquiring an additional 2,911,362 shares during the period. BNP Paribas Financial Markets increased its stake in shares of QuantumScape by 2,036.7% in the second quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company's stock worth $16,483,000 after acquiring an additional 2,338,038 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of QuantumScape by 55.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock worth $30,183,000 after acquiring an additional 2,066,844 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of QuantumScape by 1,005.2% in the second quarter. JPMorgan Chase & Co. now owns 1,982,578 shares of the company's stock worth $13,323,000 after acquiring an additional 1,803,196 shares during the period. Institutional investors and hedge funds 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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