Looks like the stormy weather for QuantumScape's shares isn't over yet. After the recent insider sales and the downgrades by analysts, investors' sentiment seems to have shifted from lukewarm to chilly. What's more, the company's decision not to adjust its cost and capital expenditure guidance for 2023 downwards didn't exactly instill confidence.

In fact, just this last Thursday, the stock price took a hit, falling by 7% to close at $6.81. And guess what? QuantumScape's Chief Legal Officer, Michael McCarthy, recently sold off 32,674 shares! Not a great sign, right?

Wall Street isn't too thrilled either, with analyst ratings taking a downturn. Add to that, QuantumScape's unchanged forecast for the full fiscal year 2023 has definitely thrown investors for a loop.

Despite all this, QuantumScape is still trading at a higher price-to-sales ratio than its peers, which makes the argument for its undervaluation a tough one to sell. So, it's a thumbs down from me for now - it seems like QuantumScape's share price weakness is totally justified.