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

QuantumScape Co. (NYSE:QS) has earned an average recommendation of “Reduce” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $5.19.

A number of brokerages have recently issued reports on QS. Truist Financial dropped their price target on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. Robert W. Baird lowered their price target on shares of QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. UBS Group downgraded shares of QuantumScape from a “neutral” rating to a “sell” rating and cut their price objective for the company from $5.00 to $2.50 in a report on Thursday, April 10th. Finally, The Goldman Sachs Group dropped their price target on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a research report on Monday, April 28th.

Insiders Place Their Bets

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.22, for a total value of $67,379.76. Following the sale, the director now owns 228,287 shares of the company’s stock, valued at $1,191,658.14. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Hettrich sold 53,975 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $282,289.25. Following the transaction, the chief financial officer now owns 930,800 shares of the company’s stock, valued at approximately $4,868,084. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,198 shares of company stock valued at $748,796 over the last quarter. 12.03% of the stock is owned by insiders.

Hedge Funds Weigh In On QuantumScape

Several hedge funds have recently bought and sold shares of QS. Ieq Capital LLC increased its stake in QuantumScape by 2.6% during the fourth quarter. Ieq Capital LLC now owns 87,370 shares of the company’s stock worth $453,000 after purchasing an additional 2,200 shares during the period. Handelsbanken Fonder AB increased its stake in QuantumScape by 2.0% during the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company’s stock worth $595,000 after buying an additional 2,300 shares during the period. Xponance Inc. lifted its holdings in QuantumScape by 17.8% during the 4th quarter. Xponance Inc. now owns 15,862 shares of the company’s stock worth $82,000 after buying an additional 2,400 shares in the last quarter. Arizona State Retirement System boosted its position in QuantumScape by 2.3% in the 4th quarter. Arizona State Retirement System now owns 111,364 shares of the company’s stock valued at $578,000 after buying an additional 2,483 shares during the period. Finally, Birchcreek Wealth Management LLC grew its stake in shares of QuantumScape by 11.5% in the first quarter. Birchcreek Wealth Management LLC now owns 25,183 shares of the company’s stock worth $105,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Stock Performance

NYSE:QS opened at $4.06 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The stock has a market capitalization of $2.27 billion, a PE ratio of -4.32 and a beta of 4.38. QuantumScape has a fifty-two week low of $3.40 and a fifty-two week high of $9.52. The company has a fifty day moving average of $4.08 and a two-hundred day moving average of $4.81.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same period in the previous year, the business posted ($0.24) EPS. As a group, research analysts forecast that QuantumScape will post -0.82 earnings per share for the current fiscal 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.