QuantumScape Co. (NYSE:QS – Get Rating) was down 4.4% during trading on Monday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $10.00 to $8.00. The stock traded as low as $6.66 and last traded at $6.69. Approximately 3,200,739 shares were traded during trading, a decline of 45% from the average daily volume of 5,856,650 shares. The stock had previously closed at $7.00.
Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group decreased their target price on shares of QuantumScape from $5.00 to $4.00 and set a "sell" rating for the company in a research report on Wednesday, April 12th. Morgan Stanley decreased their target price on shares of QuantumScape from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Wednesday, January 25th.
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Insider Buying and Selling at QuantumScape
In other QuantumScape news, CEO Jagdeep Singh sold 478,747 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $9.03, for a total value of $4,323,085.41. Following the completion of the sale, the chief executive officer now owns 970,877 shares in the company, valued at approximately $8,767,019.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Jagdeep Singh sold 478,747 shares of the firm's stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $9.03, for a total transaction of $4,323,085.41. Following the completion of the sale, the chief executive officer now owns 970,877 shares in the company, valued at approximately $8,767,019.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mohit Singh sold 8,500 shares of the firm's stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $8.09, for a total transaction of $68,765.00. Following the sale, the insider now owns 657,733 shares of the company's stock, valued at approximately $5,321,059.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,423,199 shares of company stock worth $12,699,486. Insiders own 13.73% of the company's stock.
Institutional Investors Weigh In On QuantumScape
Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of QuantumScape by 10.3% during the first quarter. Bank of New York Mellon Corp now owns 778,770 shares of the company's stock worth $15,569,000 after acquiring an additional 72,570 shares in the last quarter. US Bancorp DE grew its holdings in QuantumScape by 78.5% during the 1st quarter. US Bancorp DE now owns 11,310 shares of the company's stock valued at $226,000 after buying an additional 4,975 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of QuantumScape by 14.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 65,502 shares of the company's stock valued at $1,309,000 after buying an additional 8,253 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of QuantumScape by 18.7% in the first quarter. Cetera Advisor Networks LLC now owns 20,611 shares of the company's stock worth $412,000 after buying an additional 3,253 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of QuantumScape by 10.4% in the first quarter. Citigroup Inc. now owns 88,582 shares of the company's stock valued at $1,771,000 after acquiring an additional 8,342 shares during the period. Hedge funds and other institutional investors own 26.09% of the company's stock.
QuantumScape Price Performance
The business's 50-day moving average price is $7.89 and its 200 day moving average price is $7.65. The company has a quick ratio of 22.91, a current ratio of 22.91 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.84 billion, a P/E ratio of -6.65 and a beta of 5.16.
QuantumScape (NYSE:QS – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.01). During the same quarter in the prior year, the company posted ($0.21) EPS. Analysts anticipate that QuantumScape Co. will post -0.91 EPS for the current fiscal year.
About QuantumScape
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QuantumScape Corporation, a 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.