QuantumScape (NYSE:QS) Hits New 1-Year Low on Analyst Downgrade

QuantumScape Co. (NYSE:QS)’s stock price hit a new 52-week low during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $9.00 to $5.00. UBS Group currently has a neutral rating on the stock. QuantumScape traded as low as $4.97 and last traded at $5.04, with a volume of 4395625 shares traded. The stock had previously closed at $5.48.

A number of other equities analysts also recently issued reports on QS. Robert W. Baird raised their price objective on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Truist Financial lowered their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday. Three research 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. According to MarketBeat, QuantumScape currently has a consensus rating of “Hold” and an average target price of $6.30.

Insider Buying and Selling

In other news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction on Monday, April 8th. The shares were sold at an average price of $6.14, for a total value of $212,486.98. Following the completion of the sale, the chief financial officer now owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the transaction, the chief financial officer now owns 1,178,512 shares in the company, valued at $7,236,063.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 21,840 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were 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. Insiders sold 194,970 shares of company stock valued at $1,250,775 over the last 90 days. Company insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently modified their holdings of QS. Armor Investment Advisors LLC lifted its stake in shares of QuantumScape by 48.0% in the first quarter. Armor Investment Advisors LLC now owns 82,832 shares of the company’s stock valued at $521,000 after buying an additional 26,846 shares in the last quarter. Oak Harbor Wealth Partners LLC lifted its position in QuantumScape by 99.6% in the 1st quarter. Oak Harbor Wealth Partners LLC now owns 143,499 shares of the company’s stock valued at $903,000 after acquiring an additional 71,600 shares in the last quarter. PFG Investments LLC acquired a new position in QuantumScape during the 1st quarter valued at about $102,000. HighPoint Advisor Group LLC bought a new stake in QuantumScape during the 4th quarter worth approximately $97,000. Finally, Vanguard Group Inc. raised its stake in shares of QuantumScape by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock worth $207,306,000 after purchasing an additional 796,723 shares during the last quarter. Institutional investors own 29.87% of the company’s stock.

QuantumScape Trading Down 7.0 %

The stock has a market capitalization of $2.53 billion, a PE ratio of -5.31 and a beta of 4.76. 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 firm has a 50 day moving average price of $5.96 and a 200 day moving average price of $6.42.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same quarter last year, the firm earned ($0.25) earnings per share. Equities analysts expect that QuantumScape Co. will post -0.96 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.