QuantumScape (NYSE:QS) Stock Price Down 3.1% - Should You Sell?

Key Points

• QuantumScape's stock price fell by 3.1%, trading at $7.85, with a significant decrease in trading volume compared to average sessions.
• Analysts maintain a consensus rating of "Reduce" for QuantumScape, with a price target of $5.90, and the company recently reported earnings that met expectations.
• Insider trading activity includes a notable sale of 929,813 shares by Director Fritz Prinz, indicating a potential shift in investor sentiment.

QuantumScape Corporation (NYSE:QS - Get Free Report) traded down 3.1% during mid-day trading on Friday . The stock traded as low as $7.75 and last traded at $7.85. 5,218,983 shares changed hands during trading, a decline of 78% from the average session volume of 23,901,252 shares. The stock had previously closed at $8.10.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TD Cowen upgraded QuantumScape to a "hold" rating in a research report on Monday, July 7th. Robert W. Baird increased 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. Seven investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $5.90.

QuantumScape Trading Down 3.4%

The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $8.82 and a two-hundred day moving average of $5.84. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of -9.09 and a beta of 4.43.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million for the quarter. During the same quarter last year, the firm earned ($0.25) earnings per share. Research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Activity at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 929,813 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the sale, the director directly owned 161,343 shares of the company's stock, valued at $1,874,805.66. The trade was a 85.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael O. Mccarthy III sold 500,000 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the completion of the sale, the insider directly owned 1,467,183 shares in the company, valued at approximately $17,019,322.80. The trade was a 25.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,956,517 shares of company stock valued at $34,977,013 in the last quarter. 5.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QS. Baird Financial Group Inc. boosted its position in shares of QuantumScape by 8.5% during the 2nd quarter. Baird Financial Group Inc. now owns 18,575 shares of the company's stock worth $125,000 after acquiring an additional 1,450 shares in the last quarter. 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 purchasing an additional 1,963 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in QuantumScape by 12.9% in the 2nd quarter. Wealthfront Advisers LLC now owns 21,844 shares of the company's stock valued at $147,000 after purchasing an additional 2,495 shares during the last quarter. Birchcreek Wealth Management LLC lifted its stake in QuantumScape by 11.5% in the 1st quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company's stock valued at $105,000 after purchasing an additional 2,600 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in QuantumScape by 13.7% in the 1st quarter. HighTower Advisors LLC now owns 23,611 shares of the company's stock valued at $98,000 after purchasing an additional 2,838 shares during the last quarter. 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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