QuantumScape (NYSE:QS) Shares Down 4.3% - Here's Why

Key Points

• QuantumScape shares fell by 4.3% to a last traded price of $15.5870, significantly influenced by increased trading volume which reached approximately 57.56 million shares.
• Analysts have issued mixed ratings for QuantumScape, with Weiss Ratings maintaining a "sell" rating, while TD Cowen upgraded the stock to "hold" and Robert W. Baird raised its price target from $6.00 to $11.00.
• Insider trading activity included sales by Director Jeffrey B. Straubel and CFO Kevin Hettrich, with a total of 827,870 shares sold in the last 90 days, representing about 5.48% of the company's stock owned by insiders.

QuantumScape Corporation (NYSE:QS - Get Free Report) dropped 4.3% during trading on Tuesday . The stock traded as low as $15.02 and last traded at $15.5870. Approximately 57,562,511 shares traded hands during mid-day trading, an increase of 100% from the average daily volume of 28,781,369 shares. The stock had previously closed at $16.28.

Analyst Upgrades and Downgrades

Several research firms have commented on QS. Weiss Ratings reissued a "sell (d-)" rating on shares of QuantumScape in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the stock a "hold" rating in a research note on Thursday, October 23rd. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research note on Monday, July 7th. Finally, Robert W. Baird boosted their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $6.47.

QuantumScape Stock Down 4.3%

The company has a market cap of $8.82 billion, a price-to-earnings ratio of -19.24 and a beta of 4.85. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average price is $11.97 and its 200-day moving average price is $8.27.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.18). The company had revenue of ($36.67) million during the quarter. During the same period in the previous year, the firm posted ($0.23) earnings per share. Sell-side analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Activity

In other news, Director Jeffrey B. Straubel sold 157,171 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total value of $2,190,963.74. Following the sale, the director directly owned 321,040 shares of the company's stock, valued at approximately $4,475,297.60. This represents 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, CFO Kevin Hettrich sold 9,800 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total transaction of $136,612.00. Following the completion of the sale, the chief financial officer directly owned 1,591,467 shares in the company, valued at approximately $22,185,049.98. The trade was a 0.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 827,870 shares of company stock valued at $9,399,135 in the last 90 days. 5.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC increased its holdings in shares of 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 period. Russell Investments Group Ltd. increased its holdings in shares of QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock worth $25,000 after purchasing an additional 3,311 shares during the period. Federated Hermes Inc. increased its holdings in shares of 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 purchasing an additional 5,438 shares during the period. Hollencrest Capital Management increased its holdings in shares of 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 purchasing an additional 5,000 shares during the period. Finally, North Capital Inc. bought a new position in shares of QuantumScape during the second quarter worth approximately $27,000. 29.87% of the stock is owned by institutional investors.

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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