QuantumScape (NYSE:QS) Hits New 12-Month Low – Here’s Why

QuantumScape Corporation (NYSE:QS) hit a new 52-week low during trading on Wednesday . The stock traded as low as $4.77 and last traded at $5.17, with a volume of 43138559 shares traded. The stock had previously closed at $5.18.

Analysts Set New Price Targets

Separately, TD Cowen reduced their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Friday. Five research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $9.47.

QuantumScape Stock Down 0.2%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -6.38 and a beta of 2.61. The firm’s 50-day simple moving average is $7.24 and its 200-day simple moving average is $7.59.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.20) EPS. Sell-side analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current year.

Insider Transactions at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 9,800 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total value of $71,344.00. Following the completion of the transaction, the chief financial officer owned 1,816,257 shares of the company’s stock, valued at $13,222,350.96. This represents a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Timothy Holme sold 102,991 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total value of $749,774.48. Following the completion of the sale, the chief technology officer owned 1,712,506 shares of the company’s stock, valued at $12,467,043.68. This represents a 5.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 737,540 shares of company stock worth $5,967,115. 3.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Taylor & Morgan Wealth Management LLC bought a new position in QuantumScape in the second quarter worth $88,000. Handelsbanken Fonder AB boosted its stake in QuantumScape by 145.5% during the second quarter. Handelsbanken Fonder AB now owns 308,800 shares of the company’s stock worth $2,335,000 after buying an additional 183,000 shares in the last quarter. Bay Rivers Group increased its holdings in QuantumScape by 13.6% in the 2nd quarter. Bay Rivers Group now owns 15,967 shares of the company’s stock valued at $121,000 after buying an additional 1,906 shares during the period. Empowered Funds LLC increased its holdings in QuantumScape by 12.3% in the 1st quarter. Empowered Funds LLC now owns 15,906 shares of the company’s stock valued at $101,000 after buying an additional 1,737 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of QuantumScape by 9.7% in the 1st quarter. NewEdge Advisors LLC now owns 63,910 shares of the company’s stock valued at $408,000 after buying an additional 5,662 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.