QuantumScape Co. (NYSE:QS) Receives Consensus Rating of “Reduce” from Brokerages

Shares of QuantumScape Co. (NYSE:QS) have earned an average rating of “Reduce” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.14.

A number of analysts have commented on QS shares. Truist Financial reiterated a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Wolfe Research began coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th.

Insider Activity at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares in the company, valued at $12,978,820.83. This trade represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total transaction of $76,931.68. Following the completion of the sale, the director now directly owns 254,103 shares of the company’s stock, valued at $1,514,453.88. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 713,986 shares of company stock valued at $4,148,984. 12.03% of the stock is owned by insiders.

Institutional Investors Weigh In On QuantumScape

A number of large investors have recently made changes to their positions in QS. Vanguard Group Inc. boosted its holdings in QuantumScape by 2.2% in the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after purchasing an additional 656,646 shares during the last quarter. State Street Corp increased its stake in QuantumScape by 1.5% in the 3rd quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after buying an additional 87,563 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $12,806,000 after purchasing an additional 93,826 shares during the period. Janus Henderson Group PLC boosted its position in shares of QuantumScape by 1.4% during the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock worth $11,482,000 after acquiring an additional 25,347 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in QuantumScape by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company’s stock valued at $6,785,000 after buying an additional 94,103 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors.

QuantumScape Trading Down 2.3 %

Shares of QS opened at $4.74 on Friday. The firm has a market capitalization of $2.43 billion, a PE ratio of -4.99 and a beta of 4.60. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape has a 12-month low of $4.67 and a 12-month high of $10.03. The stock’s fifty day simple moving average is $5.49 and its 200-day simple moving average is $5.76.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period last year, the business earned ($0.23) earnings per share. As a group, research analysts predict that QuantumScape will post -0.97 earnings per share for the current year.

About QuantumScape

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.