QuantumScape (NYSE:QS) Shares Down 0.7%

QuantumScape Co. (NYSE:QS) was down 0.7% during trading on Wednesday . The stock traded as low as $5.54 and last traded at $5.55. Approximately 1,745,253 shares changed hands during trading, a decline of 81% from the average daily volume of 9,302,734 shares. The stock had previously closed at $5.59.

Analysts Set New Price Targets

Several research analysts have commented on QS shares. Robert W. Baird lifted their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Truist Financial decreased their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.46.

QuantumScape Price Performance

The firm has a market cap of $2.72 billion, a PE ratio of -5.78 and a beta of 4.76. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $6.05 and a two-hundred day moving average price of $6.44.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period last year, the firm posted ($0.25) earnings per share. As a group, equities analysts expect that QuantumScape Co. will post -0.87 earnings per share for the current year.

Insider Transactions at QuantumScape

In related news, Director Jeffrey B. Straubel sold 69,309 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the sale, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the sale, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey B. Straubel sold 69,309 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the completion of the sale, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,970 shares of company stock worth $1,250,775. Insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in QuantumScape by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock worth $207,306,000 after purchasing an additional 796,723 shares in the last quarter. Norges Bank acquired a new position in shares of QuantumScape during the 4th quarter worth approximately $18,482,000. Board of Trustees of The Leland Stanford Junior University raised its stake in shares of QuantumScape by 5.2% during the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock worth $18,144,000 after buying an additional 129,239 shares during the period. Baillie Gifford & Co. raised its stake in shares of QuantumScape by 53.6% during the 3rd quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock worth $17,268,000 after buying an additional 900,249 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of QuantumScape by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,975,157 shares of the company’s stock worth $13,727,000 after buying an additional 81,941 shares during the period. Hedge funds and other institutional investors 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.