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QuantumScape Corp (NYSE: QS): Why Investors Shouldn’t Ditch QS Stock In 2024

In the latest trading session, 2.11 million QuantumScape Corp (NYSE:QS) shares changed hands as the company’s beta touched 4.91. With the company’s most recent per share price at $7.84 changing hands around $0.31 or 4.18% at last look, the market valuation stands at $3.84B. QS’s current price is a discount, trading about -76.79% off its 52-week high of $13.86. The share price had its 52-week low at $4.99, which suggests the last value was 36.35% up since then. When we look at QuantumScape Corp’s average trading volume, we note the 10-day average is 6.84 million shares, with the 3-month average coming to 0.98.

QuantumScape Corp (NYSE:QS) trade information

Instantly QS is in green as seen in intraday trades today. With action 16.05%, the performance over the past five days has been green. The jump to weekly highs of 7.81 added 4.18% to the stock’s daily price. The company’s shares are showing year-to-date upside of 12.88%, with the 5-day performance at 16.05% in the green. However, in the 30-day time frame, QuantumScape Corp (NYSE:QS) is -3.15% down. Looking at the short shares, we see there were 55.72 million shares sold at short interest cover period of 3.17 days.

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QuantumScape Corp (QS) estimates and forecasts

Data shows that the QuantumScape Corp share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 4.60% over the past 6 months, a -1.05% in annual growth rate that is considerably lower than the industry average of 15.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for QuantumScape Corp will fall -36.00%, while the growth in revenue is estimated to hit 33.30% for the next quarter.

QuantumScape Corp (NYSE:QS)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 18.85% of QuantumScape Corp shares while 33.09% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 40.77%. There are 33.09% institutions holding the QuantumScape Corp stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 5.61% of the shares, roughly 23.55 million QS shares worth $188.15 million.

Capricorn Investment Group LLC holds the second largest percentage of outstanding shares, with 3.52% or 14.79 million shares worth $118.21 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 7.96 million shares estimated at $63.62 million under it, the former controlled 1.90% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 1.49% of the shares, roughly 6.27 million shares worth around $50.11 million.

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