QuantumScape (NYSE:QS) Stock Price Down 2.2%

Shares of QuantumScape Co. (NYSE:QS) fell 2.2% during trading on Monday . The stock traded as low as $5.63 and last traded at $5.68. 2,028,130 shares changed hands during trading, a decline of 79% from the average session volume of 9,508,585 shares. The stock had previously closed at $5.81.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on QS shares. William Blair initiated coverage on shares of QuantumScape in a research report on Monday, December 18th. They set a “market perform” rating for the company. Truist Financial lifted their price target on QuantumScape from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Finally, Robert W. Baird upped their price objective on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.71.

QuantumScape Stock Down 7.2 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 18.98 and a quick ratio of 18.98. The firm has a 50-day moving average of $6.32 and a 200 day moving average of $6.49. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -5.70 and a beta of 4.77.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the prior year, the business earned ($0.25) earnings per share. As a group, sell-side analysts forecast that QuantumScape Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the transaction, the director now directly owns 292,644 shares of the company’s stock, valued at $1,966,567.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the sale, the insider now owns 731,629 shares in the company, valued at approximately $4,514,150.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total value of $465,756.48. Following the completion of the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,970 shares of company stock valued at $1,250,775. 10.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in QuantumScape by 10.3% in the first quarter. Bank of New York Mellon Corp now owns 778,770 shares of the company’s stock valued at $15,569,000 after buying an additional 72,570 shares in the last quarter. US Bancorp DE increased its stake in shares of QuantumScape by 78.5% in the first quarter. US Bancorp DE now owns 11,310 shares of the company’s stock valued at $226,000 after buying an additional 4,975 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in QuantumScape by 14.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 65,502 shares of the company’s stock valued at $1,309,000 after buying an additional 8,253 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in QuantumScape by 18.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 20,611 shares of the company’s stock worth $412,000 after buying an additional 3,253 shares during the period. Finally, Citigroup Inc. grew its holdings in QuantumScape by 10.4% during the 1st quarter. Citigroup Inc. now owns 88,582 shares of the company’s stock worth $1,771,000 after acquiring an additional 8,342 shares during the last quarter. 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.