QuantumScape (NYSE:QS) Reaches New 1-Year Low at $4.82

Shares of QuantumScape Co. (NYSE:QS) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $4.82 and last traded at $4.82, with a volume of 440457 shares changing hands. The stock had previously closed at $4.92.

Analysts Set New Price Targets

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

QuantumScape Price Performance

The company has a market cap of $2.46 billion, a P/E ratio of -5.13 and a beta of 4.69. The company has a current ratio of 10.38, a quick ratio of 10.38 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average price is $5.55 and its 200-day moving average price is $6.33.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, April 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). As a group, equities research analysts expect that QuantumScape Co. will post -0.9 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael O. Mccarthy III sold 22,554 shares of QuantumScape stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total transaction of $129,008.88. Following the transaction, the insider now owns 1,207,500 shares of the company’s stock, valued at approximately $6,906,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QuantumScape news, insider Michael O. Mccarthy III sold 22,554 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $5.72, for a total transaction of $129,008.88. Following the sale, the insider now directly owns 1,207,500 shares in the company, valued at approximately $6,906,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Hettrich sold 45,848 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $5.61, for a total transaction of $257,207.28. Following the sale, the chief financial officer now owns 1,145,821 shares in the company, valued at $6,428,055.81. The disclosure for this sale can be found here. Insiders have sold 487,559 shares of company stock valued at $2,752,186 in the last 90 days. 10.18% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Several hedge funds have recently bought and sold shares of QS. New York State Common Retirement Fund raised its holdings in shares of QuantumScape by 0.6% in the fourth quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock valued at $1,638,000 after purchasing an additional 1,481 shares during the last quarter. Spire Wealth Management raised its holdings in shares of QuantumScape by 39.0% in the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the last quarter. Xponance Inc. raised its holdings in shares of QuantumScape by 15.8% in the fourth quarter. Xponance Inc. now owns 12,050 shares of the company’s stock valued at $84,000 after purchasing an additional 1,640 shares during the last quarter. C M Bidwell & Associates Ltd. raised its holdings in shares of QuantumScape by 37.3% in the third quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock valued at $45,000 after purchasing an additional 1,835 shares during the last quarter. Finally, Baron Wealth Management LLC raised its holdings in shares of QuantumScape by 19.1% in the fourth quarter. Baron Wealth Management LLC now owns 12,446 shares of the company’s stock valued at $86,000 after purchasing an additional 2,000 shares during the last quarter. 29.87% of the stock is currently 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.