QuantumScape Corporation (NYSE:QS) Given Average Rating of “Reduce” by Analysts

Shares of QuantumScape Corporation (NYSE:QS) have been assigned a consensus recommendation of “Reduce” from the six ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.4667.

Separately, TD Cowen decreased their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, July 24th.

Insider Buying and Selling at QuantumScape

In other news, CFO Kevin Hettrich sold 9,800 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $7.28, for a total value of $71,344.00. Following the completion of the transaction, the chief financial officer owned 1,816,257 shares in the company, valued at approximately $13,222,350.96. This represents a 0.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Timothy Holme sold 102,991 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total transaction of $749,774.48. Following the transaction, the chief technology officer directly owned 1,712,506 shares of the company’s stock, valued at $12,467,043.68. The trade was a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 211,444 shares of company stock valued at $1,465,971. 3.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QS. Russell Investments Group Ltd. boosted its holdings in QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after purchasing an additional 3,311 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of QuantumScape by 101.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,361 shares of the company’s stock worth $41,000 after buying an additional 2,700 shares in the last quarter. Comerica Bank lifted its position in shares of QuantumScape by 27,400.0% during the 4th quarter. Comerica Bank now owns 5,500 shares of the company’s stock worth $57,000 after buying an additional 5,480 shares during the period. Scarborough Advisors LLC lifted its position in shares of QuantumScape by 568.9% during the 4th quarter. Scarborough Advisors LLC now owns 6,074 shares of the company’s stock worth $63,000 after buying an additional 5,166 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in QuantumScape in the 4th quarter valued at $68,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Up 1.9%

NYSE QS opened at $5.28 on Friday. QuantumScape has a twelve month low of $4.77 and a twelve month high of $19.07. The stock has a market cap of $3.27 billion, a PE ratio of -6.52 and a beta of 2.68. The firm has a 50-day simple moving average of $5.81 and a 200 day simple moving average of $6.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. QuantumScape’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) EPS. On average, research analysts forecast that QuantumScape will post -0.82 EPS for the current year.

About QuantumScape

QuantumScape Corporation (NYSE: QS) is a battery technology company developing solid-state lithium-metal batteries for electric vehicles and other energy-storage applications. Its technology is designed to replace the liquid electrolyte used in conventional lithium-ion batteries with a solid ceramic separator, with the goal of improving energy density, charging performance, safety and operating range.

The company is focused on designing, testing and scaling prototype cells rather than selling mass-produced batteries.