QuantumScape (NYSE:QS) Stock Price Down 2.3% - What's Next?

Key Points

• QuantumScape's stock fell by 2.3% to a trading price of $14.26, with a significant increase in trading volume, reaching approximately 57.9 million shares.
• Analysts have mixed opinions on the stock, with six rating it as a "Hold" and two as a "Sell," while Robert W. Baird increased the price target from $6.00 to $11.00.
• Recent insider transactions included significant stock sales by executives, with insiders collectively selling 2.47 million shares valued at $25.4 million over the last three months.

Shares of QuantumScape Corporation (NYSE:QS - Get Free Report) traded down 2.3% on Thursday . The stock traded as low as $14.08 and last traded at $14.26. 57,962,146 shares were traded during mid-day trading, an increase of 120% from the average session volume of 26,382,236 shares. The stock had previously closed at $14.59.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QS. Robert W. Baird upped their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. TD Cowen raised QuantumScape to a "hold" rating in a research note on Monday, July 7th. Six investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, QuantumScape has a consensus rating of "Reduce" and an average price target of $5.88.

QuantumScape Trading Down 2.3%

The business has a 50 day moving average of $9.70 and a 200 day moving average of $6.79. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of -16.58 and a beta of 4.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40.

QuantumScape (NYSE:QS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million for the quarter. During the same quarter in the prior year, the business posted ($0.25) EPS. As a group, research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 38,035 shares of QuantumScape stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $9.13, for a total transaction of $347,259.55. Following the transaction, the insider directly owned 1,397,382 shares in the company, valued at approximately $12,758,097.66. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Hettrich sold 9,800 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $9.20, for a total value of $90,160.00. Following the sale, the chief financial officer directly owned 1,601,267 shares in the company, valued at approximately $14,731,656.40. This represents a 0.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,469,940 shares of company stock valued at $25,417,775. Corporate insiders own 5.48% of the company's stock.

Institutional Trading of QuantumScape

Several hedge funds have recently bought and sold shares of QS. GAMMA Investing LLC acquired a new position in QuantumScape in the 3rd quarter worth $46,000. Russell Investments Group Ltd. grew 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 buying an additional 3,311 shares in the last quarter. North Capital Inc. acquired a new stake in QuantumScape in the 2nd quarter valued at approximately $27,000. PNC Financial Services Group Inc. lifted its stake in QuantumScape by 54.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company's stock valued at $37,000 after acquiring an additional 1,963 shares in the last quarter. Finally, Signaturefd LLC boosted its position in QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after acquiring an additional 5,841 shares during the last quarter. 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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