QuantumScape (NYSE:QS) Trading Down 5.3% - Here's Why

QuantumScape Corporation (NYSE:QS - Get Free Report) shares dropped 5.3% on Friday . The stock traded as low as $7.01 and last traded at $7.24. Approximately 35,400,790 shares changed hands during trading, an increase of 165% from the average daily volume of 13,378,026 shares. The stock had previously closed at $7.65.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Robert W. Baird dropped their price target on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. UBS Group downgraded shares of QuantumScape from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group dropped their target price on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, QuantumScape presently has an average rating of "Hold" and a consensus target price of $5.19.

QuantumScape Price Performance

The company has a market cap of $3.74 billion, a PE ratio of -7.37 and a beta of 4.27. The business's 50 day moving average price is $4.22 and its 200-day moving average price is $4.62. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period in the prior year, the firm posted ($0.24) earnings per share. As a group, analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Activity

In other QuantumScape news, Director Fritz Prinz sold 61,523 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total transaction of $242,400.62. Following the completion of the sale, the director now directly owns 231,530 shares of the company's stock, valued at approximately $912,228.20. This represents a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mohit Singh sold 71,428 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $4.41, for a total value of $314,997.48. Following the sale, the insider now owns 1,640,998 shares of the company's stock, valued at $7,236,801.18. The trade was a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.03% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock valued at $19,799,000 after buying an additional 3,904,168 shares during the last quarter. Norges Bank acquired a new stake in shares of QuantumScape during the 4th quarter worth about $17,762,000. Vanguard Group Inc. raised its stake in shares of QuantumScape by 9.0% in the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after acquiring an additional 2,911,362 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of QuantumScape by 55.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock worth $30,183,000 after purchasing an additional 2,066,844 shares during the last quarter. Finally, Nuveen LLC bought a new stake in QuantumScape during the 1st quarter worth about $2,819,000. 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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