QuantumScape (NYSE:QS) Hits New 12-Month Low – What’s Next?

QuantumScape Corporation (NYSE:QS)’s stock price reached a new 52-week low during trading on Monday. The company traded as low as $4.46 and last traded at $4.4940, with a volume of 1061236 shares trading hands. The stock had previously closed at $4.57.

Analyst Ratings Changes

Separately, TD Cowen reduced their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Friday, July 24th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, QuantumScape currently has a consensus rating of “Reduce” and an average price target of $9.47.

QuantumScape Stock Up 0.6%

The business’s 50 day moving average is $5.40 and its 200-day moving average is $6.53. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -5.74 and a beta of 2.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14.

QuantumScape (NYSE:QS) last issued its quarterly 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. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.20) earnings per share. On average, sell-side analysts predict that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insider Activity

In other news, CTO Timothy Holme sold 45,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $5.09, for a total transaction of $229,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 174,599 shares of company stock valued at $928,471 in the last quarter. 3.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in QuantumScape by 134.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,035 shares of the company’s stock worth $36,570,000 after buying an additional 3,290,942 shares in the last quarter. Norges Bank purchased a new position in shares of QuantumScape in the fourth quarter valued at approximately $29,321,000. Bank of New York Mellon Corp acquired a new stake in shares of QuantumScape in the second quarter worth approximately $9,619,000. Clear Street Group Inc. purchased a new stake in shares of QuantumScape during the fourth quarter worth approximately $10,314,000. Finally, California State Teachers Retirement System increased its position in shares of QuantumScape by 23.3% during the first quarter. California State Teachers Retirement System now owns 491,725 shares of the company’s stock worth $3,137,000 after purchasing an additional 93,079 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

About QuantumScape

QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries for electric vehicles and other applications. Its technology is designed to replace conventional lithium-ion battery components, including the graphite anode, with a lithium-metal anode and a solid ceramic separator.

The company is developing battery cells intended to offer higher energy density, faster charging, improved safety and longer operating range than many conventional lithium-ion batteries.