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

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

Wall Street Analyst Weigh In

QS has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced 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. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $5.00 to $2.50 in a research report on Thursday, April 10th. Finally, Robert W. Baird reduced their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.19.

QuantumScape Price Performance

The stock's 50-day moving average price is $4.62 and its 200 day moving average price is $4.70. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -7.71 and a beta of 4.42. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03.

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

Insider Transactions at QuantumScape

In related news, insider Mohit Singh sold 325,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $7.21, for a total transaction of $2,343,250.00. Following the completion of the sale, the insider directly owned 1,641,711 shares in the company, valued at approximately $11,836,736.31. This trade represents a 16.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fritz Prinz sold 61,523 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total transaction of $242,400.62. Following the sale, the director owned 231,530 shares of the company's stock, valued at approximately $912,228.20. The trade was a 20.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 747,951 shares of company stock valued at $4,629,048 over the last quarter. Company insiders own 12.03% of the company's stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently bought and sold shares of QS. Signaturefd LLC increased its position in QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after purchasing an additional 5,841 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in QuantumScape during the fourth quarter worth about $26,000. Federated Hermes Inc. boosted its stake in QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after buying an additional 5,438 shares during the period. Hollencrest Capital Management boosted its stake in QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after buying an additional 5,000 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in QuantumScape during the fourth quarter worth about $29,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.