QuantumScape (NYSE:QS) Stock Down 1.1% - Future Projections

QuantumScape Co. (NYSE:QS - Get Free Report) experienced a decline of 1.1% in its stock price during trading on Wednesday. The stock traded as low as $5.02 and was last recorded at $5.07. A total of approximately 4,135,728 shares changed hands throughout the day, which represents a significant drop of 78% from the average daily trading volume of 18,626,908 shares. The previous closing price had been $5.12.

Analysts Provide Updated Price Targets

Recently, several analysts have shared their views on QuantumScape. Truist Financial maintained a "hold" rating and raised its price target to $7.00, a notable increase from the previous target of $6.00, in a report released on Friday, October 25th. Meanwhile, HSBC upgraded its rating for QuantumScape from "reduce" to "hold" and set a new price target of $5.30 on November 19th. Additionally, Hsbc Global Res also raised its rating to "hold" on the same date. One research analyst holds a sell rating, while six analysts have assigned a hold rating, resulting in an average rating of "Hold" and a price target of $6.26, according to MarketBeat.com.

QuantumScape's Price Performance

The stock has recorded a 50-day simple moving average of $5.27 and a 200-day simple moving average of $5.70. QuantumScape possesses a market capitalization of $2.65 billion and has a P/E ratio of -5.43, alongside a beta of 4.46. The company also shows strong liquidity with a quick ratio of 14.07 and a current ratio of 14.07, indicating it is well-positioned to meet its short-term liabilities. Its debt-to-equity ratio stands at a low 0.03.

QuantumScape last reported earnings on October 23rd, where it posted a loss of ($0.23) per share for the quarter. This amount fell short of analysts' expectations, which were set at ($0.21), marking a difference of $0.02. In the same quarter a year earlier, the business also reported an EPS of ($0.23). Analysts forecast QuantumScape to have an annual EPS of -0.99 for the current fiscal year.

Insider Activity at QuantumScape

In other news, insider Mohit Singh sold 97,305 shares of QuantumScape on December 27th, at an average price of $6.24, totaling to $607,183.20. Following this transaction, Singh still retains ownership of 1,092,020 shares in the company, valued at approximately $6,814,204.80, representing an 8.18% decrease from his previous holdings. Additionally, Director Jagdeep Singh sold 308,097 shares on December 9th at an average price of $5.30, resulting in a total of $1,632,914.10. Post-sale, the director holds about 2,563,767 shares valued at around $13,587,965.10 after a 10.73% reduction in ownership. In total, insiders have sold 536,460 shares valued at $2,903,619 over the past three months, maintaining an ownership stake of 12.03% in the company.

Hedge Fund Activity

Recent movements from hedge funds show alterations in their holdings in QuantumScape. Signaturefd LLC increased its holdings by 79.9% during Q3, now owning 4,838 shares worth $28,000 after acquiring an extra 2,148 shares. Heck Capital Advisors LLC initiated a new position valued at around $26,000 in QuantumScape during Q4. Meanwhile, International Assets Investment Management LLC boosted its holdings by an impressive 475.1% in Q3, bringing its total ownership to 5,118 shares worth $29,000 after purchasing an additional 4,228 shares recently. Blue Trust Inc. also increased its stake by 208.8% during Q4, now holding 6,738 shares valued at $39,000 after buying 4,556 additional shares. Furthermore, Atom Investors LP took a new position in QuantumScape valued at approximately $60,000. In total, institutional investors and hedge funds currently own about 29.87% of QuantumScape's stock.

About QuantumScape

QuantumScape Corporation is a research and development firm that focuses on the innovation and commercialization of solid-state lithium-metal batteries, primarily for electric vehicles and other applications. Established in 2010, the company is headquartered in San Jose, California.

Conclusion

As QuantumScape continues to navigate its market presence, investors should monitor stock performance, analyst ratings, and insider activities closely to make informed decisions moving forward.

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