QuantumScape (NYSE:QS) Reaches New 12-Month Low – Here’s What Happened

QuantumScape Co. (NYSE:QS) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $4.63 and last traded at $4.71, with a volume of 3728253 shares. The stock had previously closed at $4.80.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a report on Tuesday. Finally, Truist Financial cut their price target on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a report on Friday, February 14th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.06.

QuantumScape Trading Down 2.4 %

The stock has a market capitalization of $2.40 billion, a PE ratio of -4.98 and a beta of 4.45. The stock’s 50 day moving average price is $5.29 and its 200-day moving average price is $5.38. 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 issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). On average, sell-side analysts expect that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.22, for a total value of $67,379.76. Following the sale, the director now owns 228,287 shares in the company, valued at $1,191,658.14. The trade was a 5.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Hettrich sold 53,975 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $282,289.25. Following the transaction, the chief financial officer now owns 930,800 shares of the company’s stock, valued at approximately $4,868,084. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 615,216 shares of company stock worth $3,327,157. 12.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in QuantumScape in the 4th quarter worth approximately $26,000. Tidal Investments LLC grew its stake in shares of QuantumScape by 13.0% in the 4th quarter. Tidal Investments LLC now owns 138,089 shares of the company’s stock worth $717,000 after buying an additional 15,865 shares in the last quarter. Shay Capital LLC bought a new stake in shares of QuantumScape in the 4th quarter worth about $123,000. Raiffeisen Bank International AG purchased a new stake in shares of QuantumScape during the 4th quarter valued at about $29,000. Finally, Man Group plc purchased a new stake in shares of QuantumScape during the 4th quarter valued at about $252,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.