QuantumScape (NYSE:QS) Trading Down 0.7%

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Truist Financial lowered their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday. Finally, UBS Group decreased their target price on QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.30.

QuantumScape Stock Performance

The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $5.96 and a 200-day simple moving average of $6.42.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period last year, the company earned ($0.25) earnings per share. On average, equities analysts expect that QuantumScape Co. will post -0.93 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently made changes to their positions in the company. Citigroup Inc. lifted its stake in shares of QuantumScape by 97.7% during the 3rd quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock worth $703,000 after purchasing an additional 51,934 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC increased its position in QuantumScape by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock valued at $77,000 after buying an additional 2,861 shares in the last quarter. Scotia Capital Inc. acquired a new position in QuantumScape during the 3rd quarter valued at about $95,000. HBK Sorce Advisory LLC increased its position in QuantumScape by 11.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock valued at $150,000 after buying an additional 2,264 shares in the last quarter. Finally, Simplicity Solutions LLC acquired a new position in QuantumScape during the 4th quarter valued at about $719,000. 29.87% of the stock is currently owned by hedge funds and other 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.