QuantumScape (NYSE:QS) Shares Down 9.5% on Analyst Downgrade

QuantumScape Co. (NYSE:QS) shares dropped 9.5% during mid-day trading on Thursday after UBS Group lowered their price target on the stock from $9.00 to $5.00. UBS Group currently has a neutral rating on the stock. QuantumScape traded as low as $4.92 and last traded at $4.96. Approximately 6,020,750 shares changed hands during trading, a decline of 35% from the average daily volume of 9,317,990 shares. The stock had previously closed at $5.48.

QS has been the topic of several other reports. Robert W. Baird increased their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Truist Financial decreased their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.30.

Insider Buying and Selling at QuantumScape

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

Institutional Trading of QuantumScape

Institutional investors have recently modified their holdings of the stock. Spire Wealth Management lifted its position in shares of QuantumScape by 39.0% during the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares during the last quarter. International Assets Investment Management LLC increased its stake in QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after buying an additional 5,296 shares during the period. Level Financial Advisors Inc. acquired a new position in QuantumScape in the 3rd quarter valued at $42,000. C M Bidwell & Associates Ltd. increased its stake in QuantumScape by 37.3% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock valued at $45,000 after buying an additional 1,835 shares during the period. Finally, CWM LLC increased its stake in QuantumScape by 31.1% in the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock valued at $51,000 after buying an additional 1,794 shares during the period. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Down 7.0 %

The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -5.21 and a beta of 4.76. The firm’s 50 day simple moving average is $6.00 and its 200-day simple moving average is $6.43.

QuantumScape (NYSE:QS) last posted 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 business earned ($0.25) EPS. On average, sell-side analysts anticipate that QuantumScape Co. will post -0.96 EPS for the current fiscal year.

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.