QuantumScape (NYSE:QS) Stock Price Down 1.1% – What’s Next?

QuantumScape Co. (NYSE:QS)’s stock price dropped 1.1% during trading on Wednesday . The company traded as low as $5.02 and last traded at $5.07. Approximately 4,135,728 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 18,626,908 shares. The stock had previously closed at $5.12.

Analysts Set New Price Targets

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

QuantumScape Price Performance

The business has a 50 day simple moving average of $5.27 and a 200-day simple moving average of $5.70. The company has a market capitalization of $2.65 billion, a P/E ratio of -5.43 and a beta of 4.46. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the business earned ($0.23) EPS. Analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Activity

In related news, insider Mohit Singh sold 97,305 shares of QuantumScape 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 sale, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jagdeep Singh sold 308,097 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the transaction, the director now directly owns 2,563,767 shares in the company, valued at approximately $13,587,965.10. The trade was a 10.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 536,460 shares of company stock valued at $2,903,619. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Hedge funds have recently modified their holdings of the company. Signaturefd LLC grew its holdings in QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of QuantumScape in the 4th quarter worth approximately $26,000. International Assets Investment Management LLC raised its holdings in shares of 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 purchasing an additional 4,228 shares in the last quarter. Blue Trust Inc. lifted its stake in QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after purchasing an additional 4,556 shares during the last quarter. Finally, Atom Investors LP bought a new stake in QuantumScape during the third quarter worth approximately $60,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.