QuantumScape (NYSE:QS) Shares Down 3% – Here’s What Happened

QuantumScape Co. (NYSE:QS) shares fell 3% during trading on Monday . The company traded as low as $4.92 and last traded at $5.02. 6,219,611 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 15,920,391 shares. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

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

QuantumScape Trading Down 1.5 %

The business’s 50-day moving average price is $5.28 and its 200-day moving average price is $5.54. The firm has a market capitalization of $2.56 billion, a PE ratio of -5.26 and a beta of 4.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

Insider Buying and Selling at QuantumScape

In related news, insider Mohit Singh sold 97,305 shares of the 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 completion of the transaction, the insider now directly owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael O. Mccarthy III sold 27,305 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.07, for a total transaction of $138,436.35. Following the completion of the sale, the insider now owns 1,129,167 shares of the company’s stock, valued at approximately $5,724,876.69. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 573,409 shares of company stock worth $3,090,581. 12.03% of the stock is owned by company insiders.

Institutional Trading of QuantumScape

Institutional investors have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC acquired a new stake in QuantumScape in the 4th quarter valued at about $26,000. Signaturefd LLC lifted its holdings in shares of QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after purchasing an additional 4,228 shares during the last quarter. Blue Trust Inc. increased its stake in shares of QuantumScape by 208.8% during the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after purchasing an additional 4,556 shares in the last quarter. Finally, Centaurus Financial Inc. acquired a new position in shares of QuantumScape during the 2nd quarter worth approximately $52,000. Hedge funds and other 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.