QuantumScape (NYSE:QS) Trading Down 2.8% Following Analyst Downgrade

QuantumScape Co. (NYSE:QS) fell 2.8% during trading on Monday after Truist Financial lowered their price target on the stock from $8.00 to $6.00. Truist Financial currently has a hold rating on the stock. QuantumScape traded as low as $5.18 and last traded at $5.21. 2,668,143 shares were traded during trading, a decline of 72% from the average session volume of 9,377,897 shares. The stock had previously closed at $5.36.

Separately, Robert W. Baird raised their target price on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.46.

Insiders Place Their Bets

In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the transaction, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,970 shares of company stock worth $1,250,775. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

A number of hedge funds have recently bought and sold shares of QS. Vanguard Group Inc. lifted its holdings in QuantumScape by 23.3% during the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after acquiring an additional 5,483,319 shares during the period. Norges Bank bought a new stake in QuantumScape during the fourth quarter worth $18,482,000. Baillie Gifford & Co. lifted its holdings in QuantumScape by 53.6% during the third quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock worth $17,268,000 after acquiring an additional 900,249 shares during the period. Trexquant Investment LP bought a new stake in QuantumScape during the fourth quarter worth $1,560,000. Finally, Duality Advisers LP lifted its holdings in QuantumScape by 133.7% during the fourth quarter. Duality Advisers LP now owns 371,340 shares of the company’s stock worth $2,581,000 after acquiring an additional 212,468 shares during the period. 29.87% of the stock is currently owned by institutional investors.

QuantumScape Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 18.98 and a quick ratio of 18.98. The stock has a fifty day moving average of $6.08 and a 200 day moving average of $6.44. The firm has a market capitalization of $2.67 billion, a P/E ratio of -5.61 and a beta of 4.76.

QuantumScape (NYSE:QS) last released its earnings results 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 firm earned ($0.25) earnings per share. On average, research analysts anticipate that QuantumScape Co. will post -0.87 EPS for the current fiscal year.

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.