QuantumScape (NYSE:QS) Stock Price Down 3.7% - Time to Sell?

Key Points

• QuantumScape's stock price fell 3.7%, trading around $7.64 with significant volume drop of 82% compared to its average daily trading volume.
• According to analysts, QuantumScape has a consensus rating of "Reduce" with a target price of $5.90, reflecting cautious sentiment towards the company's stock.
• Insiders have significantly reduced their holdings, selling a total of over 3.9 million shares in the last ninety days, raising concerns about the company's outlook.

QuantumScape Corporation (NYSE:QS - Get Free Report)'s stock price was down 3.7% during mid-day trading on Tuesday . The company traded as low as $7.55 and last traded at $7.64. Approximately 4,407,003 shares changed hands during trading, a decline of 82% from the average daily volume of 23,832,236 shares. The stock had previously closed at $7.93.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QS shares. TD Cowen upgraded QuantumScape to a "hold" rating in a research note on Monday, July 7th. Robert W. Baird lifted their price target on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Seven equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $5.90.

QuantumScape Trading Down 2.3%

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 stock has a market cap of $4.38 billion, a PE ratio of -9.01 and a beta of 4.42. The firm has a 50-day simple moving average of $8.96 and a 200-day simple moving average of $5.89.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same quarter in the previous year, the business earned ($0.25) EPS. Equities analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, CTO Timothy Holme sold 358,330 shares of QuantumScape stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $7.03, for a total value of $2,519,059.90. Following the completion of the sale, the chief technology officer owned 1,705,428 shares of the company's stock, valued at approximately $11,989,158.84. The trade was a 17.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mohit Singh sold 465,000 shares of QuantumScape stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the completion of the sale, the insider directly owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. This trade represents a 22.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,956,517 shares of company stock valued at $34,977,013 over the last ninety days. Company insiders own 5.48% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position in shares of QuantumScape by 685.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock valued at $25,000 after buying an additional 3,311 shares in the last quarter. North Capital Inc. bought a new position in QuantumScape in the 2nd quarter worth about $27,000. Heck Capital Advisors LLC bought a new position in shares of QuantumScape during the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. boosted its stake in shares of QuantumScape by 54.5% during the second 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 in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of QuantumScape during the fourth quarter valued at approximately $29,000. Institutional investors own 29.87% of the company's stock.

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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