QuantumScape (NYSE:QS) Shares Down 2.2%

QuantumScape Co. (NYSE:QSGet Free Report)’s stock price dropped 2.2% during trading on Friday . The stock traded as low as $4.86 and last traded at $4.95. Approximately 1,370,900 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 7,854,273 shares. The stock had previously closed at $5.06.

Wall Street Analyst Weigh In

QS has been the topic of several research reports. UBS Group cut their price objective on QuantumScape from $9.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Truist Financial cut their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Two 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.67.

Check Out Our Latest Report on QuantumScape

QuantumScape Trading Down 0.2 %

The business has a 50 day simple moving average of $5.45 and a 200-day simple moving average of $6.17. The stock has a market capitalization of $2.52 billion, a P/E ratio of -5.26 and a beta of 4.62. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38.

QuantumScape (NYSE:QSGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). On average, analysts predict that QuantumScape Co. will post -0.89 EPS for the current year.

Insider Activity

In other news, insider Michael O. Mccarthy III sold 22,554 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the completion of the sale, the insider now owns 1,207,500 shares in the company, valued at $6,906,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael O. Mccarthy III sold 22,554 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the completion of the sale, the insider now owns 1,207,500 shares in the company, valued at $6,906,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fritz Prinz sold 25,816 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.87, for a total value of $125,723.92. Following the completion of the sale, the director now owns 267,011 shares of the company’s stock, valued at approximately $1,300,343.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 516,675 shares of company stock worth $2,894,443. Insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund increased its position in QuantumScape by 0.6% during the fourth quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock worth $1,638,000 after buying an additional 1,481 shares during the last quarter. Spire Wealth Management increased its position in QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares during the last quarter. Xponance Inc. increased its position in QuantumScape by 15.8% during the fourth quarter. Xponance Inc. now owns 12,050 shares of the company’s stock worth $84,000 after buying an additional 1,640 shares during the last quarter. Baron Wealth Management LLC increased its position in QuantumScape by 19.1% during the fourth quarter. Baron Wealth Management LLC now owns 12,446 shares of the company’s stock worth $86,000 after buying an additional 2,000 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its position in QuantumScape by 11.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock worth $150,000 after buying an additional 2,264 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

About QuantumScape

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for QuantumScape Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuantumScape and related companies with MarketBeat.com's FREE daily email newsletter.