QuantumScape Corporation (NYSE:QS) Given Average Recommendation of “Reduce” by Brokerages

Shares of QuantumScape Corporation (NYSE:QS) have received an average rating of “Reduce” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $5.90.

QS has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. TD Cowen raised shares of QuantumScape to a “hold” rating in a report on Monday, July 7th. The Goldman Sachs Group lowered their price objective on QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a report on Monday, April 28th. Finally, UBS Group downgraded QuantumScape from a “neutral” rating to a “sell” rating and cut their target price for the stock from $5.00 to $2.50 in a research note on Thursday, April 10th.

QuantumScape Stock Performance

Shares of QS stock opened at $10.98 on Thursday. The stock’s 50-day moving average price is $6.80 and its 200 day moving average price is $5.29. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $6.14 billion, a PE ratio of -12.77 and a beta of 4.42. QuantumScape has a 52-week low of $3.40 and a 52-week high of $15.03.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $36.67 million during the quarter. During the same quarter in the prior year, the business earned ($0.25) EPS. As a group, equities research analysts forecast that QuantumScape will post -0.82 EPS for the current year.

Insider Activity

In related news, Director Fritz Prinz sold 70,187 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.62, for a total value of $815,572.94. Following the sale, the director directly owned 161,343 shares of the company’s stock, valued at approximately $1,874,805.66. This represents a 30.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Timothy Holme sold 11,906 shares of the firm’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $7.02, for a total transaction of $83,580.12. Following the transaction, the chief technology officer owned 1,661,928 shares of the company’s stock, valued at $11,666,734.56. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,589,468 shares of company stock worth $29,734,411. Company insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

Large investors have recently modified their holdings of the business. Signaturefd LLC lifted its holdings in QuantumScape by 2,086.1% in the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock valued at $25,000 after purchasing an additional 5,841 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of QuantumScape in the fourth quarter valued at approximately $26,000. Federated Hermes Inc. lifted its stake in shares of QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after buying an additional 5,438 shares during the period. Hollencrest Capital Management lifted its stake in shares of QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock valued at $27,000 after buying an additional 5,000 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in QuantumScape during the fourth quarter worth approximately $29,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.