By otakuyassine3@gmail.com 
QuantumScape Co. (NYSE:QS – Get Free Report) shares fell 5.1% on Thursday . The stock traded as low as $4.78 and last traded at $4.82. 18,160,939 shares traded hands during trading, an increase of 95% from the average session volume of 9,328,144 shares. The stock had previously closed at $5.08.
Analyst Upgrades and Downgrades
QS has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research initiated coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating on the stock. 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 QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Finally, HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.26.
Get Our Latest Stock Analysis on QuantumScape
QuantumScape Price Performance
The firm has a market capitalization of $2.57 billion, a P/E ratio of -5.28 and a beta of 4.50. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $5.17 and its 200-day moving average is $5.64.
QuantumScape (NYSE:QS – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the company earned ($0.23) EPS. As a group, sell-side analysts predict that QuantumScape Co. will post -0.99 EPS for the current fiscal year.
Insider Activity
In other news, insider Michael O. Mccarthy III sold 27,305 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.07, for a total value of $138,436.35. Following the completion of the sale, the insider now owns 1,129,167 shares of the company’s stock, valued at approximately $5,724,876.69. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $5.04, for a total transaction of $65,056.32. Following the sale, the director now directly owns 241,195 shares of the company’s stock, valued at $1,215,622.80. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 666,032 shares of company stock valued at $3,549,682 over the last quarter. 12.03% of the stock is owned by company insiders.
Institutional Investors Weigh In On QuantumScape
Several institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC grew its holdings in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC increased its position in QuantumScape by 475.1% in the 3rd 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 in the last quarter. Atom Investors LP acquired a new position in QuantumScape during the 3rd quarter worth approximately $60,000. Centaurus Financial Inc. bought a new position in QuantumScape in the second quarter worth approximately $52,000. Finally, Nwam LLC acquired a new stake in QuantumScape in the third quarter valued at approximately $64,000. Institutional investors own 29.87% of the company’s stock.
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.
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