QuantumScape (NYSE:QS) Trading Down 9% - Here's What Happened

Key Points

• QuantumScape's Shares fell 9% in mid-day trading, with stock prices dropping to around $16.24 from a previous close of $17.85.
• Recent analyst reports show a mixed view, with TD Cowen upgrading the stock to "hold" while Weiss Ratings maintained a "sell" rating, reflecting uncertainty in investor sentiment.
• Insider transactions reveal significant stock sales, including a director selling over 2 million shares worth approximately $26.8 million, suggesting potential concerns among company insiders.

QuantumScape Corporation (NYSE:QS - Get Free Report) shares dropped 9% during mid-day trading on Thursday . The stock traded as low as $16.23 and last traded at $16.24. Approximately 27,236,786 shares changed hands during trading, a decline of 3% from the average daily volume of 28,178,689 shares. The stock had previously closed at $17.85.

Wall Street Analyst Weigh In

QS has been the topic of several recent research reports. TD Cowen upgraded QuantumScape to a "hold" rating in a report on Monday, July 7th. Robert W. Baird increased their price target on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of QuantumScape in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $5.88.

QuantumScape Stock Down 12.4%

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 business has a 50-day moving average price of $10.95 and a 200-day moving average price of $7.57. The firm has a market cap of $8.85 billion, a P/E ratio of -18.15 and a beta of 4.85.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.20). The firm had revenue of $36.67 million for the quarter. During the same quarter last year, the firm earned ($0.25) earnings per share. On average, equities analysts forecast that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In related news, Director Jeffrey B. Straubel sold 157,180 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $9.20, for a total transaction of $1,446,056.00. Following the sale, the director 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Fritz Prinz sold 929,813 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.62, for a total value of $10,804,427.06. Following the sale, the director directly owned 161,343 shares in the company, valued at approximately $1,874,805.66. The trade was a 85.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,327,870 shares of company stock worth $26,819,135 over the last quarter. 5.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position in QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after purchasing an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. raised its stake in QuantumScape by 685.5% in the second 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 during the last quarter. Federated Hermes Inc. raised its stake in shares of QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after purchasing an additional 5,438 shares during the last quarter. Hollencrest Capital Management raised its stake in shares of QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock worth $27,000 after purchasing an additional 5,000 shares during the last quarter. Finally, North Capital Inc. purchased a new position in shares of QuantumScape in the second quarter worth about $27,000. 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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