Shares of QuantumScape Co. (NYSE:QS – Get Free Report) dropped 5.5% on Wednesday . The stock traded as low as $5.14 and last traded at $5.19. Approximately 17,812,332 shares traded hands during trading, an increase of 84% from the average daily volume of 9,691,576 shares. The stock had previously closed at $5.49.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research report on Tuesday, November 19th. Truist Financial reiterated a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, Wolfe Research initiated coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.26.
Read Our Latest Stock Report on QS
QuantumScape Trading Up 6.7 %
QuantumScape (NYSE:QS – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the business earned ($0.23) earnings per share. As a group, equities research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.
Insiders Place Their Bets
In other news, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now directly owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jagdeep Singh sold 192,270 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $5.53, for a total value of $1,063,253.10. Following the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at $14,325,923.99. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 763,337 shares of company stock worth $4,156,865. 12.03% of the stock is currently owned by insiders.
Institutional Trading of QuantumScape
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in shares of QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares during the last quarter. International Assets Investment Management LLC boosted its stake in QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after purchasing an additional 4,228 shares during the last quarter. Atom Investors LP bought a new stake in QuantumScape during the 3rd quarter worth approximately $60,000. Centaurus Financial Inc. purchased a new stake in shares of QuantumScape in the second quarter worth approximately $52,000. Finally, Nwam LLC bought a new position in shares of QuantumScape in the third quarter valued at approximately $64,000. 29.87% of the stock is owned by institutional investors.
QuantumScape Company Profile
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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