QuantumScape Co. (NYSE:QS) Receives Average Rating of “Reduce” from Analysts

Shares of QuantumScape Co. (NYSE:QS) have been given an average rating of “Reduce” by the seven brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $6.14.

Several research analysts have commented on QS shares. Truist Financial restated a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Wolfe Research started coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 222,476 shares of QuantumScape stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the completion of the sale, the insider now owns 1,283,847 shares of the company’s stock, valued at approximately $8,447,713.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $5.50, for a total transaction of $1,057,485.00. Following the completion of the sale, the director now owns 2,809,253 shares of the company’s stock, valued at approximately $15,450,891.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael O. Mccarthy III sold 222,476 shares of QuantumScape stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total value of $1,463,892.08. Following the sale, the insider now directly owns 1,283,847 shares of the company’s stock, valued at approximately $8,447,713.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,126,067 shares of company stock valued at $6,659,475 in the last quarter. 10.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors have recently modified their holdings of QS. Vanguard Group Inc. raised its stake in shares of QuantumScape by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock valued at $207,306,000 after buying an additional 796,723 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of QuantumScape by 40.2% in the 1st quarter. Principal Financial Group Inc. now owns 28,278 shares of the company’s stock valued at $178,000 after purchasing an additional 8,106 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of QuantumScape by 1.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 358,597 shares of the company’s stock valued at $2,256,000 after purchasing an additional 6,006 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in shares of QuantumScape in the 1st quarter valued at about $66,000. Finally, Baillie Gifford & Co. increased its stake in shares of QuantumScape by 10.3% in the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after purchasing an additional 251,186 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Price Performance

NYSE:QS opened at $6.19 on Tuesday. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -6.45 and a beta of 4.58. QuantumScape has a 1 year low of $4.67 and a 1 year high of $10.03. The business has a 50 day simple moving average of $5.69 and a 200-day simple moving average of $5.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the previous year, the firm posted ($0.23) earnings per share. Equities analysts forecast that QuantumScape will post -0.9 EPS for the current year.

QuantumScape Company Profile

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.