QuantumScape (NYSE:QS) Trading Down 3.7% - What's Next?

Key Points

• The stock price of QuantumScape (NYSE:QS) fell by 3.7% to $8.70, with trading volume decreasing by 69% compared to its average.
• Analysts have varied opinions on QuantumScape, with seven holding a "hold" rating and a consensus target price of $5.90.
• Insiders have sold a significant amount of shares, with a total of 4,018,040 shares worth approximately $35.2 million sold in the last 90 days.

QuantumScape Corporation (NYSE:QS - Get Free Report) dropped 3.7% during mid-day trading on Monday . The company traded as low as $8.55 and last traded at $8.70. Approximately 7,637,824 shares were traded during trading, a decline of 69% from the average daily volume of 24,460,871 shares. The stock had previously closed at $9.03.

Analyst Upgrades and Downgrades

QS has been the topic of a number of analyst reports. TD Cowen raised QuantumScape to a "hold" rating in a report on Monday, July 7th. Robert W. Baird lifted their price objective on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group lowered their price objective on QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $5.90.

QuantumScape Stock Performance

The stock's 50-day moving average price is $8.15 and its 200-day moving average price is $5.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of -10.25 and a beta of 4.43.

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 the consensus estimate of ($0.20). The company had revenue of $36.67 million for the quarter. During the same period in the prior year, the company earned ($0.25) EPS. As a group, equities research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 929,813 shares of QuantumScape stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the completion of the transaction, the director directly owned 161,343 shares in the company, valued at $1,874,805.66. The trade was a 85.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael O. Mccarthy III sold 500,000 shares of QuantumScape stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $11.60, for a total value of $5,800,000.00. Following the transaction, the insider owned 1,467,183 shares of the company's stock, valued at $17,019,322.80. This represents a 25.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,018,040 shares of company stock valued at $35,219,414. 5.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. FORA Capital LLC acquired a new position in QuantumScape in the 2nd quarter valued at $240,000. Headlands Technologies LLC acquired a new position in QuantumScape in the 2nd quarter valued at $782,000. Captrust Financial Advisors raised its holdings in QuantumScape by 49.6% in the 2nd quarter. Captrust Financial Advisors now owns 51,237 shares of the company's stock valued at $344,000 after acquiring an additional 16,981 shares during the last quarter. Tidal Investments LLC raised its holdings in QuantumScape by 17.7% in the 2nd quarter. Tidal Investments LLC now owns 212,211 shares of the company's stock valued at $1,426,000 after acquiring an additional 31,946 shares during the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in QuantumScape by 18.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 27,863 shares of the company's stock valued at $187,000 after acquiring an additional 4,429 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.

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