QuantumScape (NYSE:QS) Shares Down 1% (2024)

QuantumScape Co. (NYSE:QS - Get Free Report)'s share price traded down 1% during trading on Wednesday . The stock traded as low as $5.02 and last traded at $5.04. 3,789,088 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 4,419,004 shares. The stock had previously closed at $5.09.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group dropped their price objective on QuantumScape from $9.00 to $5.00 and set a "neutral" rating on the stock in a research note on Thursday, April 25th. Truist Financial dropped their price objective on QuantumScape from $8.00 to $6.00 and set a "hold" rating on the stock in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, QuantumScape currently has a consensus rating of "Hold" and an average target price of $6.67.

View Our Latest Stock Report on QS

QuantumScape Trading Down 1.0 %

The stock has a market cap of $2.52 billion, a PE ratio of -5.25 and a beta of 4.69. The firm has a 50-day simple moving average of $5.61 and a 200-day simple moving average of $6.36. The company has a quick ratio of 10.38, a current ratio of 10.38 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.02). Equities analysts forecast that QuantumScape Co. will post -0.9 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael O. Mccarthy III sold 22,554 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the sale, the insider now owns 1,207,500 shares in the company, valued at $6,906,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kevin Hettrich sold 45,848 shares of the firm's stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $5.61, for a total transaction of $257,207.28. Following the transaction, the chief financial officer now directly owns 1,145,821 shares of the company's stock, valued at $6,428,055.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the completion of the transaction, the insider now owns 1,207,500 shares in the company, valued at approximately $6,906,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 487,559 shares of company stock worth $2,752,186. Corporate insiders own 10.18% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Citigroup Inc. increased its holdings in shares of QuantumScape by 97.7% in the third quarter. Citigroup Inc. now owns 105,065 shares of the company's stock worth $703,000 after buying an additional 51,934 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of QuantumScape by 34.5% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company's stock worth $77,000 after buying an additional 2,861 shares during the period. Victory Capital Management Inc. increased its holdings in shares of QuantumScape by 26.4% in the fourth quarter. Victory Capital Management Inc. now owns 43,752 shares of the company's stock worth $304,000 after buying an additional 9,135 shares during the period. Scotia Capital Inc. purchased a new position in shares of QuantumScape in the third quarter worth about $95,000. Finally, HBK Sorce Advisory LLC increased its holdings in shares of QuantumScape by 11.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company's stock worth $150,000 after buying an additional 2,264 shares during the period. Hedge funds and other institutional investors own 29.87% of the company's stock.

QuantumScape Company Profile

(Get Free Report)

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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