QuantumScape (NYSE:QS) Trading Down 3.8% - Here's What Happened

QuantumScape Corporation (NYSE:QS - Get Free Report) fell 3.8% during trading on Monday . The company traded as low as $6.65 and last traded at $6.76. 7,051,463 shares changed hands during trading, a decline of 50% from the average session volume of 14,166,313 shares. The stock had previously closed at $7.02.

Wall Street Analyst Weigh In

A number of research firms have recently commented on QS. Robert W. Baird dropped their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. TD Cowen raised shares of QuantumScape to a "hold" rating in a research note on Monday. The Goldman Sachs Group dropped their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a research note on Monday, April 28th. Finally, UBS Group downgraded shares of QuantumScape from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.19.

QuantumScape Stock Up 8.6%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. The firm has a market cap of $5.07 billion, a PE ratio of -9.97 and a beta of 4.42. The stock has a fifty day moving average price of $4.80 and a 200-day moving average price of $4.75.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same period in the previous year, the firm posted ($0.24) earnings per share. Research analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Timothy Holme sold 358,330 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was 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 directly owned 1,705,428 shares in the company, valued at approximately $11,989,158.84. This represents a 17.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 864,708 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $7.02, for a total value of $6,070,250.16. Following the transaction, the director owned 81,364 shares of the company's stock, valued at approximately $571,175.28. This trade represents a 91.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,589,468 shares of company stock worth $18,114,411 in the last 90 days. 12.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of QuantumScape by 22.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,881 shares of the company's stock valued at $245,000 after buying an additional 6,413 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of QuantumScape by 91.4% during the 2nd quarter. Parallel Advisors LLC now owns 11,083 shares of the company's stock valued at $74,000 after buying an additional 5,292 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 buying an additional 3,904,168 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of QuantumScape by 50.4% during the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company's stock valued at $88,000 after buying an additional 7,111 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of QuantumScape by 21.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961,052 shares of the company's stock valued at $3,998,000 after buying an additional 170,173 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other 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.