QuantumScape (NYSE:QS) Sets New 1-Year Low – Should You Sell?

QuantumScape Corporation (NYSE:QS) shares reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $4.76 and last traded at $4.8050, with a volume of 4193112 shares trading hands. The stock had previously closed at $4.91.

Analysts Set New Price Targets

Separately, TD Cowen lowered their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, July 24th. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $9.47.

QuantumScape Stock Performance

The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The stock has a market cap of $3.04 billion, a P/E ratio of -6.06 and a beta of 2.68. The firm’s 50-day moving average is $5.52 and its two-hundred day moving average is $6.64.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, July 22nd. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. During the same quarter in the prior year, the company earned ($0.20) earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. As a group, research analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Buying and Selling at QuantumScape

In related news, CFO Kevin Hettrich sold 9,800 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $7.28, for a total value of $71,344.00. Following the completion of the sale, the chief financial officer directly owned 1,816,257 shares in the company, valued at approximately $13,222,350.96. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Timothy Holme sold 45,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $5.09, for a total transaction of $229,050.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 321,644 shares of company stock valued at $1,998,959. 3.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in QS. QRG Capital Management Inc. boosted its position in QuantumScape by 23.7% during the second quarter. QRG Capital Management Inc. now owns 14,316 shares of the company’s stock worth $108,000 after purchasing an additional 2,746 shares during the period. Maven Securities LTD bought a new stake in shares of QuantumScape during the 2nd quarter worth $664,000. NewEdge Advisors LLC grew its stake in QuantumScape by 15.6% in the 2nd quarter. NewEdge Advisors LLC now owns 73,905 shares of the company’s stock valued at $559,000 after buying an additional 9,995 shares during the last quarter. Arizona State Retirement System raised its holdings in QuantumScape by 10.5% in the 2nd quarter. Arizona State Retirement System now owns 126,992 shares of the company’s stock worth $960,000 after acquiring an additional 12,081 shares during the period. Finally, Nykredit A S bought a new stake in QuantumScape during the second quarter valued at about $112,000. 29.87% of the stock is owned by institutional investors.

About QuantumScape

QuantumScape Corporation (NYSE: QS) is a battery technology company developing solid-state lithium-metal batteries for electric vehicles and other energy-storage applications. Its technology is designed to replace the liquid electrolyte used in conventional lithium-ion batteries with a solid ceramic separator, with the goal of improving energy density, charging performance, safety and operating range.

The company is focused on designing, testing and scaling prototype cells rather than selling mass-produced batteries.