QuantumScape (NYSE:QS) Shares Down 0.7%

QuantumScape Co. (NYSE:QS) was down 0.7% on Wednesday . The stock traded as low as $5.54 and last traded at $5.55. Approximately 1,745,253 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 9,302,734 shares. The stock had previously closed at $5.59.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on QS shares. Robert W. Baird increased their target price on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Truist Financial reduced their target price on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research note on Monday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape has a consensus rating of “Hold” and an average target price of $6.46.

QuantumScape Price Performance

The stock has a market cap of $2.72 billion, a price-to-earnings ratio of -5.78 and a beta of 4.76. The company’s 50-day moving average is $6.05 and its 200-day moving average is $6.44. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same period in the prior year, the business earned ($0.25) EPS. Equities research analysts expect that QuantumScape Co. will post -0.87 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In related news, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $6.72, for a total value of $465,756.48. Following the completion of the sale, the director now owns 292,644 shares of the company’s stock, valued at $1,966,567.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now directly owns 292,644 shares of the company’s stock, valued at $1,966,567.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 21,840 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the completion of the transaction, the insider now directly owns 731,629 shares in the company, valued at $4,514,150.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,970 shares of company stock valued at $1,250,775. Corporate insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently made changes to their positions in QS. CWM LLC raised its holdings in shares of QuantumScape by 31.1% during the third quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after acquiring an additional 1,794 shares during the period. AE Wealth Management LLC acquired a new stake in shares of QuantumScape during the third quarter worth $74,000. SG Americas Securities LLC raised its holdings in shares of QuantumScape by 67.8% during the third quarter. SG Americas Securities LLC now owns 67,842 shares of the company’s stock worth $454,000 after acquiring an additional 27,412 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of QuantumScape during the third quarter worth $88,000. Finally, Oak Thistle LLC acquired a new stake in shares of QuantumScape during the third quarter worth $916,000. 29.87% of the stock is owned by 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.