QuantumScape (NYSE:QS) Shares Down 2.7% - Time to Sell?

Key Points

• QuantumScape's share price fell by 2.7%, closing at $9.19, with trading volume significantly down by 57% from the average.
• Analyst ratings for QuantumScape vary, with Robert W. Baird raising the price target to $11.00 while Goldman Sachs reduced it to $2.50, indicating mixed sentiment among experts.
• Insider sales have been notable, with significant transactions from key executives, including a sale of 500,000 shares by an insider recently.

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price was down 2.7% during trading on Thursday . The stock traded as low as $9.15 and last traded at $9.19. Approximately 10,459,693 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 24,530,920 shares. The stock had previously closed at $9.44.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on QS shares. Robert W. Baird upped their price target on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. The Goldman Sachs Group decreased their price target on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research note on Monday, April 28th. Finally, TD Cowen raised QuantumScape to a "hold" rating in a research report on Monday, July 7th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $5.90.

QuantumScape Stock Performance

The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of -10.33 and a beta of 4.43. The stock has a fifty day moving average price of $7.95 and a two-hundred day moving average price of $5.59. 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 released 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 last year, the business posted ($0.25) EPS. As a group, analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In related news, insider Michael O. Mccarthy III sold 500,000 shares of the firm'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 completion of the sale, the insider owned 1,467,183 shares of the company's stock, valued at $17,019,322.80. This trade represents a 25.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Timothy Holme sold 358,330 shares of the firm'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 sale, the chief technology officer directly owned 1,705,428 shares of the company's stock, valued at approximately $11,989,158.84. This represents a 17.36% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,089,468 shares of company stock valued at $35,534,411. Corporate insiders own 5.48% of the company's stock.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of QuantumScape by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 5,882,031 shares of the company's stock worth $30,538,000 after acquiring an additional 28,073 shares in the last quarter. Invesco Ltd. boosted its position in QuantumScape by 8.3% in the fourth quarter. Invesco Ltd. now owns 1,550,012 shares of the company's stock valued at $8,045,000 after buying an additional 118,710 shares in the last quarter. Legal & General Group Plc raised its stake in shares of QuantumScape by 1.5% during the fourth quarter. Legal & General Group Plc now owns 405,363 shares of the company's stock valued at $2,104,000 after acquiring an additional 5,838 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of QuantumScape during the fourth quarter valued at $1,527,000. Finally, Capital Fund Management S.A. bought a new position in shares of QuantumScape during the fourth quarter valued at $871,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

About QuantumScape

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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