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

QuantumScape Co. (NYSE:QS) has been assigned a consensus recommendation of “Reduce” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $6.67.

A number of brokerages recently commented on QS. Truist Financial lowered their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. UBS Group lowered their price objective on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th.

Insider Activity at QuantumScape

In related news, insider Mohit Singh sold 173,224 shares of QuantumScape stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the completion of the sale, the insider now owns 1,196,905 shares of the company’s stock, valued at approximately $8,426,211.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other QuantumScape news, insider Mohit Singh sold 173,224 shares of QuantumScape stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $7.04, for a total value of $1,219,496.96. Following the completion of the sale, the insider now owns 1,196,905 shares in the company, valued at approximately $8,426,211.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael O. Mccarthy III sold 22,554 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total value of $129,008.88. Following the transaction, the insider now owns 1,207,500 shares in the company, valued at approximately $6,906,900. The disclosure for this sale can be found here. In the last quarter, insiders have sold 847,562 shares of company stock worth $4,869,703. Company insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

A number of hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. grew its stake in shares of QuantumScape by 97.7% in the third quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock worth $703,000 after purchasing an additional 51,934 shares during the last quarter. Vanguard Group Inc. grew its position in QuantumScape by 23.3% in the 3rd quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock valued at $194,221,000 after purchasing an additional 5,483,319 shares during the period. DNB Asset Management AS bought a new stake in QuantumScape during the 4th quarter worth approximately $208,000. Whittier Trust Co. purchased a new position in shares of QuantumScape during the fourth quarter valued at approximately $326,000. Finally, Raymond James & Associates raised its holdings in shares of QuantumScape by 14.0% in the fourth quarter. Raymond James & Associates now owns 25,786 shares of the company’s stock valued at $179,000 after purchasing an additional 3,158 shares during the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Trading Up 16.9 %

Shares of QS stock opened at $8.25 on Friday. The firm has a fifty day moving average of $5.52 and a 200-day moving average of $6.14. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of -8.59 and a beta of 4.62. QuantumScape has a 52-week low of $4.67 and a 52-week high of $13.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, April 24th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). On average, equities research analysts forecast that QuantumScape will post -0.89 earnings per share for the current fiscal 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.