QuantumScape (NYSE:QS) Trading Down 4.3% - Here's What Happened

QuantumScape Co. (NYSE:QS - Get Free Report) fell 4.3% during trading on Thursday . The stock traded as low as $4.06 and last traded at $4.07. 1,444,680 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 11,405,026 shares. The stock had previously closed at $4.25.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on QS shares. The Goldman Sachs Group reduced their target price on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a report on Monday, April 28th. Truist Financial reduced their price objective on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Robert W. Baird lowered their target price on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. UBS Group downgraded shares of QuantumScape from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Finally, Evercore ISI reissued a "hold" rating on shares of QuantumScape in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $5.19.

QuantumScape Stock Up 3.8%

The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.31 billion, a PE ratio of -4.39 and a beta of 4.27. The company's 50 day moving average is $3.97 and its two-hundred day moving average is $4.66.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period last year, the firm earned ($0.24) earnings per share. On average, analysts anticipate that QuantumScape Co. will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In other QuantumScape news, Director Fritz Prinz sold 61,523 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total transaction of $242,400.62. Following the completion of the transaction, the director now owns 231,530 shares in the company, valued at $912,228.20. The trade was a 20.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mohit Singh sold 71,428 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $4.41, for a total value of $314,997.48. Following the completion of the sale, the insider now owns 1,640,998 shares in the company, valued at approximately $7,236,801.18. The trade was a 4.17% decrease in their position. The disclosure for this sale can be found here. 12.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently bought and sold shares of QS. Ieq Capital LLC raised its holdings in shares of QuantumScape by 2.6% in the 4th quarter. Ieq Capital LLC now owns 87,370 shares of the company's stock valued at $453,000 after purchasing an additional 2,200 shares in the last quarter. Handelsbanken Fonder AB raised its stake in QuantumScape by 2.0% in the fourth quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company's stock worth $595,000 after buying an additional 2,300 shares in the last quarter. Xponance Inc. raised its stake in QuantumScape by 17.8% in the fourth quarter. Xponance Inc. now owns 15,862 shares of the company's stock worth $82,000 after buying an additional 2,400 shares in the last quarter. Arizona State Retirement System lifted its holdings in QuantumScape by 2.3% during the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company's stock worth $578,000 after buying an additional 2,483 shares during the period. Finally, Birchcreek Wealth Management LLC boosted 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 in the last quarter. 29.87% of the stock is owned by 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.