QuantumScape (NYSE:QS) Stock Price Down 9.5% on Analyst Downgrade

QuantumScape Co. (NYSE:QS) shares dropped 9.5% during 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 $4.92 and last traded at $4.96. Approximately 6,020,750 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 9,317,990 shares. The stock had previously closed at $5.48.

Other analysts have also issued research reports about the company. Robert W. Baird lifted their price objective on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Truist Financial cut their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, QuantumScape presently has an average rating of “Hold” and an average target price of $6.30.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jeffrey B. Straubel sold 69,309 shares of the business’s stock in a transaction dated 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 directly owns 292,644 shares in the company, valued at $1,966,567.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 21,840 shares of the business’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 transaction, the insider now owns 731,629 shares in the company, valued at $4,514,150.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 194,970 shares of company stock valued at $1,250,775. Company insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently made changes to their positions in QS. Spire Wealth Management lifted its position in shares of QuantumScape by 39.0% in the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of QuantumScape by 595.1% in the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after acquiring an additional 5,296 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its position in shares of QuantumScape by 37.3% in the third quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock valued at $45,000 after acquiring an additional 1,835 shares in the last quarter. CWM LLC lifted its position in shares of QuantumScape by 31.1% in the third quarter. CWM LLC now owns 7,555 shares of the company’s stock valued at $51,000 after acquiring an additional 1,794 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of QuantumScape by 57.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock valued at $56,000 after acquiring an additional 2,954 shares in the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Stock Down 7.0 %

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

QuantumScape (NYSE:QS) last posted its 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 period in the prior year, the firm posted ($0.25) earnings per share. Analysts forecast that QuantumScape Co. will post -0.96 earnings per share for the current year.

QuantumScape Company Profile

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.