QuantumScape (NYSE:QS) Reaches New 1-Year Low – Here’s What Happened

Shares of QuantumScape Corporation (NYSE:QS) reached a new 52-week low during trading on Wednesday . The stock traded as low as $4.77 and last traded at $5.17, with a volume of 43138559 shares changing hands. The stock had previously closed at $5.18.

Analyst Ratings Changes

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

QuantumScape Stock Performance

The firm’s 50 day moving average price is $7.13 and its two-hundred day moving average price is $7.52. The firm has a market cap of $3.22 billion, a PE ratio of -6.46 and a beta of 2.61. 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 posted its earnings results on Wednesday, July 22nd. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the company posted ($0.20) earnings per share. On average, research analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Activity at QuantumScape

In related news, insider Mohit Singh sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $7.87, for a total transaction of $393,500.00. Following the transaction, the insider owned 1,803,035 shares in the company, valued at $14,189,885.45. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey B. Straubel sold 27,106 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $7.85, for a total transaction of $212,782.10. Following the transaction, the director owned 131,298 shares in the company, valued at approximately $1,030,689.30. This trade represents a 17.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 737,540 shares of company stock valued at $5,967,115 over the last quarter. 3.93% of the stock is owned by insiders.

Institutional Trading of QuantumScape

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC purchased a new stake in QuantumScape during the first quarter worth $321,000. NewEdge Advisors LLC raised its stake in shares of QuantumScape by 50.4% during the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company’s stock worth $88,000 after buying an additional 7,111 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of QuantumScape by 456.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock worth $19,799,000 after buying an additional 3,904,168 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of QuantumScape by 41.4% in the 2nd quarter. Prudential Financial Inc. now owns 31,439 shares of the company’s stock worth $211,000 after buying an additional 9,210 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after acquiring an additional 3,311 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.