QuantumScape (NYSE:QS) Shares Down 2.4% - Here's Why

Key Points

• QuantumScape's shares fell by 2.4% to $15.34 during mid-day trading with a significant increase in trading volume, reaching over 55 million shares.
• Analyst ratings for QuantumScape show a mixed outlook, with a consensus rating of “Reduce” and a price target of $5.88; several analysts have raised price objectives while others propose sell ratings.
• Insider trading activity includes notable sales by key directors, with a combined total of over $26 million worth of shares sold in the last ninety days.

Shares of QuantumScape Corporation (NYSE:QS - Get Free Report) were down 2.4% during mid-day trading on Tuesday . The stock traded as low as $14.97 and last traded at $15.34. Approximately 55,375,678 shares traded hands during trading, an increase of 106% from the average daily volume of 26,920,139 shares. The stock had previously closed at $15.72.

Analyst Ratings Changes

Several equities analysts have weighed in on QS shares. Robert W. Baird increased their price objective on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of QuantumScape in a research note on Saturday, September 27th. Finally, TD Cowen raised QuantumScape to a "hold" rating in a research note on Monday, July 7th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, QuantumScape has a consensus rating of "Reduce" and a consensus price target of $5.88.

QuantumScape Stock Down 2.4%

The company has a market capitalization of $8.68 billion, a P/E ratio of -17.83 and a beta of 4.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. The company has a 50 day moving average of $9.91 and a 200-day moving average of $7.05.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings data 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 prior year, the business posted ($0.25) EPS. As a group, equities analysts anticipate that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Activity at QuantumScape

In other QuantumScape news, Director Jeffrey B. Straubel sold 157,171 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total transaction of $2,190,963.74. Following the transaction, the director directly owned 321,040 shares of the company's stock, valued at approximately $4,475,297.60. The trade was a 32.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Timothy Holme sold 166,442 shares of QuantumScape stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $15.52, for a total transaction of $2,583,179.84. Following the sale, the chief technology officer directly owned 1,364,273 shares in the company, valued at $21,173,516.96. The trade was a 10.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,327,870 shares of company stock worth $26,819,135. 5.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. grew its stake in QuantumScape by 8.5% in the second quarter. Baird Financial Group Inc. now owns 18,575 shares of the company's stock worth $125,000 after purchasing an additional 1,450 shares during the period. PNC Financial Services Group Inc. grew its position in shares of QuantumScape by 54.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company's stock worth $37,000 after buying an additional 1,963 shares during the period. Wealthfront Advisers LLC increased its stake in shares of QuantumScape by 12.9% in the 2nd quarter. Wealthfront Advisers LLC now owns 21,844 shares of the company's stock worth $147,000 after acquiring an additional 2,495 shares in the last quarter. Birchcreek Wealth Management LLC lifted its position in QuantumScape by 11.5% during the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock valued at $105,000 after acquiring an additional 2,600 shares during the period. Finally, HighTower Advisors LLC boosted its stake in QuantumScape by 13.7% during the first quarter. HighTower Advisors LLC now owns 23,611 shares of the company's stock worth $98,000 after acquiring an additional 2,838 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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