QuantumScape (NYSE:QS) Reaches New 12-Month Low on Analyst Downgrade

QuantumScape Co. (NYSE:QS)’s stock price reached a new 52-week low on Thursday after UBS Group lowered their price target on the stock from $9.00 to $5.00. UBS Group currently has a neutral rating on the stock. QuantumScape traded as low as $4.97 and last traded at $5.04, with a volume of 4395625 shares traded. The stock had previously closed at $5.48.

A number of other brokerages have also recently issued reports on QS. Robert W. Baird boosted their target price on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Truist Financial lowered their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.30.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the sale, the chief financial officer now directly owns 1,178,512 shares in the company, valued at $7,236,063.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares in the company, valued at approximately $4,514,150.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $6.14, for a total transaction of $212,486.98. Following the completion of the transaction, the chief financial officer now directly owns 1,178,512 shares of the company’s stock, valued at approximately $7,236,063.68. The disclosure for this sale can be found here. Insiders have sold a total of 194,970 shares of company stock worth $1,250,775 in the last three months. 10.18% of the stock is owned by company insiders.

Institutional Trading of QuantumScape

A number of institutional investors have recently added to or reduced their stakes in QS. CWM LLC boosted its stake in shares of QuantumScape by 31.1% during the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after acquiring an additional 1,794 shares in the last quarter. AE Wealth Management LLC acquired a new position in QuantumScape during the third quarter valued at approximately $74,000. SG Americas Securities LLC grew its holdings in QuantumScape by 67.8% during the third quarter. SG Americas Securities LLC now owns 67,842 shares of the company’s stock valued at $454,000 after purchasing an additional 27,412 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of QuantumScape by 5.7% in the third quarter. Commonwealth Equity Services LLC now owns 357,782 shares of the company’s stock valued at $2,394,000 after purchasing an additional 19,431 shares during the period. Finally, Armor Investment Advisors LLC boosted its holdings in shares of QuantumScape by 10.6% during the 3rd quarter. Armor Investment Advisors LLC now owns 44,740 shares of the company’s stock worth $299,000 after buying an additional 4,303 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Stock Up 5.6 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98. The business’s 50 day moving average is $5.93 and its 200-day moving average is $6.42. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -5.61 and a beta of 4.76.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period in the prior year, the business posted ($0.25) earnings per share. Equities analysts anticipate that QuantumScape Co. will post -0.93 EPS for the current fiscal year.

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.