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

QuantumScape Co. (NYSE:QS) has been assigned an average recommendation of “Reduce” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $6.62.

Separately, Truist Financial reissued a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Monday, August 5th.

QuantumScape Stock Performance

Shares of QS opened at $5.81 on Monday. The company has a 50-day moving average of $6.19 and a two-hundred day moving average of $5.94. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -6.05 and a beta of 4.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66. QuantumScape has a one year low of $4.67 and a one year high of $10.03.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter in the previous year, the business earned ($0.26) earnings per share. On average, equities research analysts expect that QuantumScape will post -0.91 earnings per share for the current year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 173,224 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $7.04, for a total value of $1,219,496.96. Following the completion of the transaction, the insider now owns 1,196,905 shares of the company’s stock, valued at approximately $8,426,211.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other 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 sale, the insider now directly owns 1,196,905 shares in the company, valued at approximately $8,426,211.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fritz Prinz sold 25,816 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.87, for a total transaction of $125,723.92. Following the completion of the transaction, the director now directly owns 267,011 shares of the company’s stock, valued at approximately $1,300,343.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,112,281 shares of company stock worth $6,547,435. 10.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Spire Wealth Management lifted its position in shares of QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. CWM LLC lifted its holdings in QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares in the last quarter. Mather Group LLC. bought a new position in QuantumScape in the 2nd quarter valued at $36,000. StepStone Group LP acquired a new stake in shares of QuantumScape in the 4th quarter valued at $56,000. Finally, Alaska Wealth Advisors bought a new stake in shares of QuantumScape during the second quarter worth $49,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.