QuantumScape Corporation (NYSE: QS) stock fell -2.94% on Friday to $6.93 against a previous-day closing price of $7.14. With 7.33 million shares changed hands, the volume of the stock remained lighter than its average volume of 8.94 million shares. During the session, the Auto Parts company that operates in wider Consumer Cyclical sector, reached to the highest price of $7.26 whereas the lowest price it dropped to was $6.88. The 52-week range on QS shows that it touched its highest point at $13.86 and its lowest point at $5.11 during that stretch. It currently has a 1-year price target of $6.50. Beta for the stock currently stands at 5.28.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of QS was up-trending over the past week, with a rise of 0.87%, but this was down by -0.43% over a month. Three-month performance dropped to -12.17% while six-month performance fell -6.22%. The stock lost -39.53% in the past year, while it has gained 22.22% so far this year. A look at the trailing 12-month EPS for QS yields -1.02 with Next year EPS estimates of -0.88. For the next quarter, that number is -0.34. This implies an EPS growth rate of -736.70% for this year and -2.40% for next year.
Float and Shares Shorts:
At present, 445.32 million QS shares are outstanding with a float of 344.47 million shares on hand for trading. On Aug 30, 2023, short shares totaled 54.46 million, which was 11.22% higher than short shares on Jul 30, 2023. In addition to Mr. Jagdeep Singh as the firm’s Co-Founder, Chairman, Pres & CEO, Prof. Friedrich Prinz Ph.D. serves as its Co-Founder, Chief Scientific Advisor & Board Member.
Through their ownership of 32.12% of QS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.32% of QS, in contrast to 21.29% held by mutual funds. Shares owned by individuals account for 15.32%. As the largest shareholder in QS with 5.51% of the stake, The Vanguard Group, Inc. holds 23,156,979 shares worth 23,156,979. A second-largest stockholder of QS, BlackRock Fund Advisors, holds 11,702,540 shares, controlling over 2.79% of the firm’s shares. BNP Paribas Asset Management UK L is the third largest shareholder in QS, holding 6,855,179 shares or 1.63% stake. With a 2.34% stake in QS, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 9,814,208 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.95% of QS stock, is the second-largest Mutual Fund holder. It holds 8,204,385 shares valued at 58.58 million. BNP Paribas Funds – Energy Transi holds 1.38% of the stake in QS, owning 5,809,777 shares worth 41.48 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, QS reported revenue of $0.00 and operating income of -$95.87M. The EBITDA in the recently reported quarter was -$86.54M and diluted EPS was -$0.22.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for QS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With QS analysts setting a high price target of $10.00 and a low target of $5.00, the average target price over the next 12 months is $8.14. Based on these targets, QS could surge 44.3% to reach the target high and fall by -27.85% to reach the target low. Reaching the average price target will result in a growth of 17.46% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded QS stock several times over the past three months with 11 Buys and 21 Sells. In these transactions, 394,577 shares were bought while 770,900 shares were sold. The number of buy transactions has increased to 61 while that of sell transactions has risen to 77 over the past year. The total number of shares bought during that period was 5,189,066 while 2,919,367 shares were sold.