QuantumScape (NYSE:QS) Trading Down 13.8% – What’s Next?

QuantumScape Co. (NYSE:QS) shares traded down 13.8% on Monday . The stock traded as low as $4.08 and last traded at $4.08. 7,332,849 shares were traded during mid-day trading, a decline of 33% from the average session volume of 11,010,258 shares. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on QS shares. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Truist Financial dropped their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 14th. The Goldman Sachs Group reduced their target price on shares of QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a report on Monday, April 28th. UBS Group downgraded shares of QuantumScape from a “neutral” rating to a “sell” rating and dropped their price target for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. Finally, Robert W. Baird reduced their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.19.

QuantumScape Price Performance

The firm has a market cap of $2.20 billion, a P/E ratio of -4.18 and a beta of 4.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The company’s 50-day moving average is $4.08 and its two-hundred day moving average is $4.75.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period in the prior year, the firm earned ($0.24) earnings per share. Sell-side analysts anticipate that QuantumScape Co. will post -0.82 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 53,975 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $282,289.25. Following the transaction, the chief financial officer now directly owns 930,800 shares in the company, valued at approximately $4,868,084. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.22, for a total transaction of $67,379.76. Following the transaction, the director now directly owns 228,287 shares in the company, valued at $1,191,658.14. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,198 shares of company stock worth $748,796 in the last 90 days. Corporate insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

Several hedge funds have recently bought and sold shares of QS. Guardian Investment Management raised its holdings in QuantumScape by 158.6% in the fourth quarter. Guardian Investment Management now owns 12,490 shares of the company’s stock worth $65,000 after purchasing an additional 7,660 shares in the last quarter. SG Americas Securities LLC increased its position in QuantumScape by 127.0% during the 4th quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock valued at $1,062,000 after buying an additional 114,504 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in QuantumScape during the fourth quarter worth approximately $65,000. PFG Investments LLC lifted its position in QuantumScape by 83.7% during the fourth quarter. PFG Investments LLC now owns 37,496 shares of the company’s stock worth $195,000 after buying an additional 17,081 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after purchasing an additional 4,556 shares during the period. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.