QuantumScape (NYSE:QS) Trading Down 3.9% - What's Next?

Key Points

• QuantumScape's stock price fell 3.9% to $7.48 during mid-day trading, with volume decreasing significantly to 4,207,019 shares traded, compared to its average of over 23 million shares.
• A series of analysts report that QuantumScape has a consensus rating of "Reduce" with a target price of $5.90, while Robert W. Baird recently raised the price target to $11.00 with a "neutral" rating.
• Insider selling has occurred, with a director selling 929,813 shares at an average price of $11.62, resulting in an 85.21% decrease in their ownership of the stock.

QuantumScape Corporation (NYSE:QS - Get Free Report)'s share price traded down 3.9% during mid-day trading on Thursday . The company traded as low as $7.45 and last traded at $7.48. 4,207,019 shares were traded during mid-day trading, a decline of 82% from the average session volume of 23,689,557 shares. The stock had previously closed at $7.78.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. Robert W. Baird raised their price target on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research 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, QuantumScape currently has a consensus rating of "Reduce" and a consensus target price of $5.90.

QuantumScape Price Performance

The stock's 50-day moving average is $9.08 and its 200 day moving average is $5.92. The stock has a market capitalization of $4.34 billion, a PE ratio of -8.91 and a beta of 4.42. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) EPS 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 in the previous year, the firm earned ($0.25) earnings per share. As a group, equities analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Activity

In other news, insider Mohit Singh sold 465,000 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total value of $3,817,650.00. Following the completion of the sale, the insider directly owned 1,641,711 shares in the company, valued at approximately $13,478,447.31. The trade was a 22.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fritz Prinz sold 929,813 shares of the company's stock in a transaction on 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 transaction, the director owned 161,343 shares of the company's stock, valued at approximately $1,874,805.66. The trade was a 85.21% decrease in their ownership of the stock. 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 three months. Corporate insiders own 5.48% of the company's stock.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after purchasing an additional 5,841 shares during the period. Russell Investments Group Ltd. grew its stake 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 worth $25,000 after acquiring an additional 3,311 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of QuantumScape in the fourth quarter valued at $26,000. Federated Hermes Inc. lifted its stake in shares of QuantumScape by 660.0% during the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after buying an additional 5,438 shares during the last quarter. Finally, Hollencrest Capital Management boosted its position in shares of QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 29.87% of the company's stock.

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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