QuantumScape (NYSE:QS) Stock Price Down 5.3% – Time to Sell?

QuantumScape Corporation (NYSE:QS)’s share price was down 5.3% during trading on Wednesday. The stock traded as low as $4.26 and last traded at $4.2150. Approximately 21,300,938 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 18,249,012 shares. The stock had previously closed at $4.45.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of QuantumScape from $8.50 to $4.50 and set an “equal weight” rating on the stock in a research note on Thursday, October 15th. TD Cowen cut 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. William Blair upgraded QuantumScape to a “hold” rating in a research note on Thursday, October 22nd. Finally, Robert W. Baird dropped their price objective on QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, October 22nd. Six research analysts have rated the stock with a Hold rating. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.36.

QuantumScape Trading Down 4.0%

The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The stock has a 50 day moving average of $4.55 and a 200 day moving average of $6.40. The firm has a market cap of $2.32 billion, a P/E ratio of -4.59 and a beta of 2.83.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 21st. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS. As a group, equities research analysts predict that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Buying and Selling at QuantumScape

In other news, CTO Timothy Holme sold 45,000 shares of QuantumScape stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $4.54, for a total transaction of $204,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 294,599 shares of company stock worth $1,473,271. Insiders own 3.93% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. lifted its position in shares of QuantumScape by 101.5% in the second quarter. TD Waterhouse Canada Inc. now owns 5,361 shares of the company’s stock worth $41,000 after buying an additional 2,700 shares in the last quarter. Vestor Capital LLC raised its position in QuantumScape by 255.2% in the 1st quarter. Vestor Capital LLC now owns 8,000 shares of the company’s stock worth $51,000 after purchasing an additional 5,748 shares during the period. Optas LLC bought a new position in QuantumScape in the 3rd quarter valued at $50,000. R Squared Ltd bought a new stake in QuantumScape during the 3rd quarter valued at about $53,000. Finally, Taylor & Morgan Wealth Management LLC purchased a new position in QuantumScape during the 2nd quarter worth $88,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

About QuantumScape

QuantumScape Corporation develops solid-state lithium-metal battery technology, primarily for use in electric vehicles. Its battery design replaces the conventional liquid electrolyte found in many lithium-ion batteries with a solid separator, with the goal of supporting higher energy density, faster charging and improved safety. Founded in 2010 and headquartered in San Jose, California, the company focuses on researching, testing and scaling its battery technology rather than selling mass-market batteries.