QuantumScape Co. (QS), a leading developer of solid-state lithium-metal batteries for electric vehicles, experienced a significant sale of shares by its Chief Technology Officer, Timothy Holme. The transaction took place on Wednesday, July 12th, with 144,623 shares sold at an average price of $10.14, resulting in a total transaction value of $1,466,477.22. The details of the transaction were disclosed in a document filed with the U.S. Securities and Exchange Commission (SEC).
QuantumScape’s Stock Performance
On Friday, July 14th, QuantumScape’s stock (QS) dropped by $0.27, closing at $9.88. The trading volume for the day reached 6,803,506 shares, surpassing the average volume of 5,801,832. QuantumScape boasts a current ratio of 22.85 and a quick ratio of 22.85, indicating strong liquidity. The company maintains a 50-day moving average of $7.24 and a 200-day moving average of $7.60. Over the past year, the stock’s lowest point was $5.11, while its highest reached $13.86.
Q2 Earnings and Analyst Forecasts
QuantumScape reported its quarterly earnings data on Wednesday, April 26th. The company’s earnings per share (EPS) for the quarter were ($0.24), falling short of the consensus estimate of ($0.23) by ($0.01). In the same quarter the previous year, QuantumScape had an EPS of ($0.21). Based on the estimates provided by research analysts, QuantumScape Co. is expected to post -0.92 earnings per share for the year.
Insights from Wall Street Analysts
Various research firms have recently issued reports on QuantumScape. The Goldman Sachs Group downgraded the stock from a “buy” to a “sell” rating and reduced their price target from $5.00 to $4.00. Similarly, Wolfe Research shifted their rating from “peer perform” to “underperform,” setting a price target of $2.00. Deutsche Bank Aktiengesellschaft also lowered their price target on QuantumScape from $10.00 to $6.33.
Hedge Funds and Institutional Investors
Institutional investors and hedge funds have been actively adjusting their positions in QuantumScape. Signaturefd LLC increased its stake in the company by 327.6% during the fourth quarter, now owning 5,148 shares valued at $29,000. Clear Street Markets LLC entered a new position during the same period, acquiring shares worth $32,000. CWM LLC boosted its stake by 41.6% during the fourth quarter, now holding 5,843 shares valued at $33,000. SailingStone Capital Partners LLC also initiated a new position during the fourth quarter, purchasing shares worth $41,000. Finally, Parallel Advisors LLC saw a significant increase of 122.1% in their stake during the first quarter, now owning 5,330 shares valued at $44,000. In total, institutional investors account for 25.70% of QuantumScape’s stock ownership.
Looking Ahead
As QuantumScape continues to develop its solid-state lithium-metal battery technology, the recent sale of shares by the CTO has drawn attention to the company’s financial landscape. With contrasting opinions from Wall Street analysts, investors and market observers will closely monitor future developments and the impact on QuantumScape’s stock performance.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
