QS Stock Shed 25.35%; Now Expecting Reversal

QS stock has been declining steadily for the past six months and lost 3.46% of its trading value in a week and 7.49% in a month.

QuantumScape Corporation (QS) Stock Price Analysis

A significant bear movement affected QuantumScape Corporation stock on August 02, 2023. A decline of over 11% was seen intraday.

In the 52-week time frame, QS stock price peaked at $13.62, and its lowest traded price was $5.11. QuantumScape Corp has a market capitalization of $3.115 Billion.

Data from companiesmarketcap(dot)com states that a surge of 26.01% is seen in the market cap in 2023 compared to 2022. QuantumScape Corporation does not pay dividends to its shareholders.

QuantumScape Corp: QS Stock Shed 25.35%; Now Expecting Reversal — Source: QuantumScape Corp (QS) stock price chart from TradingView

The MACD and the signal line are approaching the zero line, and the histogram shows that bulls are trying to establish themselves and push the price upwards.

The annual price target of QS stock is $8.00 and is 24.16% greater than its press time trading price. On October 05, 2023, extreme sellers’ dominance dragged the price below the 20-day exponential moving average (EMA).

When writing, QuantumScape Corporation (QS) stock was struggling below 20, 50, 100 and 200-day EMAs. Market observers believe that a bullish momentum is expected in the coming week.

TradingView data shows that 314.928 Million QS shares are free-floating, and the remaining 105.128 Million shares are closely held.

QuantumScape Corporation (QS) Financial Updates

As per available data of TradingView, in Q1 2023, the net income of QuantumScape Corporation was negative $104.65 Million, and in Q2, the net income was negative $116.52 Million.

The company failed to meet analysts’ expectations – reported 30.67% less EPS than estimated in Q2 2023. In the long term, the company’s total liabilities are $109.05 Million, and its assets are $403.08 Million.

QuantumScape Corp. engages in the provision of energy storage solutions. The company was founded by Jagdeep Singh, Tim Holme, and Fritz B. Prinz in May 2010.

Technical Levels

Support Level: $6.10 & $5.82

Resistance Level: $7.31 & $7.92

Conclusion:

QS stock price is on the decline. At press time, MACD and the signal line show a bullish crossover. QuantumScape Corporation was below 20,50,100, and 200-day EMAs at publishing time. Market analysts believe that a bullish trend is expected in the coming week.

Disclaimer

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