QuantumScape (NYSE:QS) Shares Down 0.9% – Time to Sell?

QuantumScape Co. (NYSE:QS) shares traded down 0.9% during mid-day trading on Tuesday . The stock traded as low as $6.30 and last traded at $6.52. 11,835,812 shares were traded during trading, a decline of 47% from the average session volume of 22,245,848 shares. The stock had previously closed at $6.58.

Analyst Ratings Changes

A number of research firms recently commented on QS. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Finally, HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The firm has a market cap of $2.93 billion, a PE ratio of -6.02 and a beta of 4.46. The stock has a 50 day simple moving average of $5.20 and a two-hundred day simple moving average of $5.68.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period last year, the firm posted ($0.23) earnings per share. Sell-side analysts expect that QuantumScape Co. will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 536,460 shares of company stock valued at $2,903,619. Corporate insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC boosted its position in QuantumScape by 28.2% during the third quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after acquiring an additional 35,579 shares during the last quarter. Virtu Financial LLC purchased a new position in QuantumScape in the 3rd quarter worth approximately $235,000. Barclays PLC boosted its holdings in shares of QuantumScape by 326.5% during the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after purchasing an additional 79,871 shares during the last quarter. Geode Capital Management LLC grew its position in shares of QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of QuantumScape by 139.2% in the third quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after purchasing an additional 26,820 shares during the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.

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.