QuantumScape (NYSE:QS) Shares Down 1% – What’s Next?

QuantumScape Co. (NYSE:QS) fell 1% during trading on Monday . The stock traded as low as $5.20 and last traded at $5.21. 12,671,967 shares traded hands during trading, a decline of 32% from the average session volume of 18,751,680 shares. The stock had previously closed at $5.26.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QS. Truist Financial reissued a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. HSBC raised 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 QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Performance

The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -5.48 and a beta of 4.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The firm has a 50-day simple moving average of $5.25 and a two-hundred day simple moving average of $5.71.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the firm posted ($0.23) earnings per share. On average, sell-side analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current fiscal year.

Insider Activity

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the sale, the director now owns 241,195 shares in the company, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 55,647 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $5.05, for a total value of $281,017.35. Following the completion of the sale, the chief financial officer now owns 1,022,743 shares of the company’s stock, valued at approximately $5,164,852.15. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 536,460 shares of company stock worth $2,903,619. 12.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. State Street Corp grew its holdings in QuantumScape by 1.5% during the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after acquiring an additional 87,563 shares during the period. Geode Capital Management LLC grew its holdings in QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in QuantumScape by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after purchasing an additional 93,826 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in QuantumScape by 8.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock valued at $6,785,000 after purchasing an additional 94,103 shares during the last quarter. Finally, Arthedge Capital Management LLC grew its holdings in QuantumScape by 14.6% in the third quarter. Arthedge Capital Management LLC now owns 723,000 shares of the company’s stock valued at $4,157,000 after purchasing an additional 92,000 shares during the last quarter. Institutional investors and hedge funds 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.