QuantumScape Corporation (NYSE:QS – Get Free Report) dropped 6.8% during trading on Monday . The company traded as low as $7.40 and last traded at $7.4640. Approximately 5,279,772 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 16,815,533 shares. The stock had previously closed at $8.01.
Analyst Ratings Changes
Several research analysts have weighed in on the company. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and dropped their price target for the stock from $10.50 to $8.30 in a research note on Wednesday, February 18th. Morgan Stanley lowered their target price on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, February 18th. Robert W. Baird set a $12.00 target price on shares of QuantumScape in a research report on Thursday, February 12th. Finally, TD Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, QuantumScape presently has an average rating of “Reduce” and a consensus target price of $11.13.
View Our Latest Stock Analysis on QS
QuantumScape Stock Down 3.6%
QuantumScape (NYSE:QS – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. During the same period in the previous year, the firm posted ($0.21) EPS. Equities research analysts predict that QuantumScape Corporation will post -0.82 earnings per share for the current year.
Insiders Place Their Bets
In other news, CTO Timothy Holme sold 127,077 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $7.10, for a total value of $902,246.70. Following the sale, the chief technology officer directly owned 1,122,348 shares in the company, valued at $7,968,670.80. The trade was a 10.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael O. Mccarthy III sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $6.73, for a total value of $302,850.00. Following the sale, the insider directly owned 954,219 shares in the company, valued at $6,421,893.87. The trade was a 4.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 744,031 shares of company stock valued at $5,089,859 in the last three months. Corporate insiders own 5.48% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of QS. VSM Wealth Advisory LLC grew its holdings in shares of QuantumScape by 46.8% in the third quarter. VSM Wealth Advisory LLC now owns 2,352 shares of the company’s stock worth $29,000 after purchasing an additional 750 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in QuantumScape by 8.2% in the third quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company’s stock valued at $153,000 after purchasing an additional 939 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of QuantumScape by 67.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock worth $31,000 after buying an additional 1,005 shares during the last quarter. CWM LLC increased its position in shares of QuantumScape by 69.1% during the third quarter. CWM LLC now owns 2,625 shares of the company’s stock worth $32,000 after purchasing an additional 1,073 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its position in QuantumScape by 6.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 20,855 shares of the company’s stock valued at $257,000 after buying an additional 1,173 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.
QuantumScape Company Profile
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.
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