QuantumScape (NYSE:QS) Trading Down 2.1% – Here’s Why

QuantumScape Co. (NYSE:QS) traded down 2.1% on Tuesday . The stock traded as low as $4.93 and last traded at $4.97. 2,964,473 shares were traded during trading, a decline of 83% from the average session volume of 16,958,639 shares. The stock had previously closed at $5.07.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Truist Financial reiterated a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a report on Tuesday, November 19th. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Stock 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’s 50 day moving average is $5.28 and its 200-day moving average is $5.69. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -5.39 and a beta of 4.46.

Insider Activity at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 308,097 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the completion of the transaction, the director now owns 2,563,767 shares of the company’s stock, valued at $13,587,965.10. The trade was a 10.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the transaction, the director now directly owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 536,460 shares of company stock valued at $2,903,619. Insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of QS. Heck Capital Advisors LLC acquired a new position in shares of QuantumScape during the fourth quarter valued at about $26,000. Signaturefd LLC raised its position in shares of QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares during the last quarter. Blue Trust Inc. raised its position in shares of QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after buying an additional 4,556 shares during the last quarter. Finally, Centaurus Financial Inc. acquired a new position in shares of QuantumScape during the second quarter valued at about $52,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.