QuantumScape (NYSE:QS) Trading Down 9.1% – Time to Sell?

Shares of QuantumScape Co. (NYSE:QS) dropped 9.1% on Thursday . The company traded as low as $5.56 and last traded at $5.72. Approximately 25,693,550 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 25,287,398 shares. The stock had previously closed at $6.29.

Analysts Set New Price Targets

Several research firms recently weighed in on QS. Truist Financial reissued a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Finally, HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, QuantumScape has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Price Performance

The firm has a market capitalization of $2.93 billion, a PE ratio of -6.02 and a beta of 4.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The business’s 50 day moving average is $5.20 and its two-hundred day moving average is $5.68.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period last year, the company earned ($0.23) EPS. Equities research analysts anticipate that QuantumScape Co. will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In related news, Director Jagdeep Singh sold 5,531 shares of QuantumScape stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the sale, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. This trade represents a 0.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the transaction, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 536,460 shares of company stock valued at $2,903,619 over the last three months. Corporate insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently bought and sold shares of QS. Signaturefd LLC lifted its stake in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC increased its holdings in QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after acquiring an additional 4,228 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in shares of QuantumScape during the second quarter worth $52,000. Atom Investors LP purchased a new stake in shares of QuantumScape in the third quarter valued at about $60,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of QuantumScape in the second quarter valued at about $61,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.