QuantumScape (NYSE:QS) Stock Price Down 3.6% – Should You Sell?

QuantumScape Corporation (NYSE:QS)’s stock price fell 3.6% during mid-day trading on Monday . The company traded as low as $12.65 and last traded at $12.9460. 23,221,271 shares changed hands during trading, a decline of 21% from the average session volume of 29,413,781 shares. The stock had previously closed at $13.43.

Analysts Set New Price Targets

Several brokerages have weighed in on QS. Robert W. Baird increased their target price on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. TD Cowen boosted their target price on shares of QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Finally, HSBC cut shares of QuantumScape from a “hold” rating to a “reduce” rating and upped their target price for the stock from $5.30 to $10.50 in a research report on Wednesday. Six equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, QuantumScape currently has an average rating of “Reduce” and a consensus price target of $8.31.

QuantumScape Price Performance

The business has a fifty day moving average price of $14.32 and a 200 day moving average price of $9.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of -15.37 and a beta of 4.83.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). During the same quarter in the prior year, the business posted ($0.23) earnings per share. On average, research analysts expect that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In related news, Director Fritz Prinz sold 980,878 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $15.49, for a total transaction of $15,193,800.22. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brad W. Buss sold 400,000 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $15.75, for a total value of $6,300,000.00. Following the transaction, the director directly owned 122,476 shares of the company’s stock, valued at approximately $1,928,997. The trade was a 76.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,021,740 shares of company stock valued at $44,388,241. 5.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Institutional investors and hedge funds have recently modified their holdings of the stock. Perbak Capital Partners LLP bought a new stake in QuantumScape during the first quarter worth approximately $353,000. Nuveen LLC acquired a new stake in shares of QuantumScape in the first quarter worth $2,819,000. CacheTech Inc. bought a new stake in shares of QuantumScape during the 1st quarter worth $130,000. Thames Capital Management LLC acquired a new position in QuantumScape in the 2nd quarter valued at $2,792,000. Finally, Private Advisory Group LLC raised its holdings in QuantumScape by 17.1% in the 1st quarter. Private Advisory Group LLC now owns 447,478 shares of the company’s stock worth $1,862,000 after acquiring an additional 65,237 shares during the period. 29.87% of the stock is owned by institutional investors and hedge funds.

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.