QuantumScape (NYSE:QS) Trading Down 1.9% - Here's What Happened

Key Points

• QuantumScape's stock price declined by 1.9% to $15.04 with trading volume significantly up at 68,278,269 shares, reflecting a 149% increase from the average.
• Analysts have mixed ratings on QuantumScape, with a recent price target increase from Robert W. Baird raising it from $6.00 to $11.00, while Weiss Ratings reaffirmed a "sell" rating.
• Insider trading activity showed significant sales, with Director Jeffrey B. Straubel selling 157,180 shares, representing a 31.10% reduction in his holdings.

QuantumScape Corporation (NYSE:QS - Get Free Report)'s stock price traded down 1.9% during mid-day trading on Thursday . The company traded as low as $14.98 and last traded at $15.04. 68,278,269 shares changed hands during mid-day trading, an increase of 149% from the average session volume of 27,432,891 shares. The stock had previously closed at $15.33.

Analysts Set New Price Targets

QS has been the subject of a number of analyst reports. TD Cowen raised QuantumScape to a "hold" rating in a report on Monday, July 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of QuantumScape in a research note on Wednesday. Finally, Robert W. Baird lifted their price target on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $5.88.

QuantumScape Stock Performance

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 has a market capitalization of $8.51 billion, a PE ratio of -17.48 and a beta of 4.85. The business's 50 day simple moving average is $10.29 and its two-hundred day simple moving average is $7.24.

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

Insider Activity at QuantumScape

In related news, Director Jeffrey B. Straubel sold 157,180 shares of QuantumScape stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $9.20, for a total transaction of $1,446,056.00. Following the transaction, the director directly owned 348,146 shares of the company's stock, valued at $3,202,943.20. This trade represents a 31.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Timothy Holme sold 176,352 shares of QuantumScape stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $7.55, for a total transaction of $1,331,457.60. Following the completion of the transaction, the chief technology officer directly owned 1,445,304 shares in the company, valued at $10,912,045.20. This represents a 10.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,327,870 shares of company stock valued at $26,819,135. 5.48% of the stock is owned by insiders.

Institutional Trading of QuantumScape

A number of institutional investors and hedge funds have recently modified their holdings of QS. Wedmont Private Capital purchased a new stake in shares of QuantumScape during the first quarter worth about $103,000. Optas LLC purchased a new stake in QuantumScape during the 1st quarter valued at about $63,000. Sowell Financial Services LLC purchased a new stake in QuantumScape during the 1st quarter valued at about $58,000. Cornerstone Wealth Management LLC purchased a new stake in shares of QuantumScape in the 1st quarter valued at approximately $55,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of QuantumScape by 362.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock valued at $1,577,000 after buying an additional 297,097 shares during the period. Hedge funds and other 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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