QuantumScape Co. (NYSE:QS) Given Average Recommendation of “Reduce” by Analysts

QuantumScape Co. (NYSE:QS) has earned an average recommendation of “Reduce” from the eight analysts that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.95.

Several equities research analysts recently commented on QS shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Wolfe Research assumed coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, Truist Financial reiterated 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.

Insider Buying and Selling

In other QuantumScape news, Director Fritz Prinz sold 25,816 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.87, for a total value of $125,723.92. Following the completion of the sale, the director now owns 267,011 shares in the company, valued at $1,300,343.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Mohit Singh sold 173,224 shares of QuantumScape stock in a transaction on 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 transaction, the insider now owns 1,196,905 shares in the company, valued at approximately $8,426,211.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Fritz Prinz sold 25,816 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.87, for a total value of $125,723.92. Following the completion of the sale, the director now 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 three months, insiders have sold 1,290,500 shares of company stock valued at $7,719,701. 10.18% of the stock is owned by company insiders.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently added to or reduced their stakes in QS. Mirae Asset Global Investments Co. Ltd. boosted its stake in QuantumScape by 240.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after purchasing an additional 3,004,964 shares during the period. Norges Bank bought a new stake in QuantumScape in the 4th quarter valued at $18,482,000. Vanguard Group Inc. lifted its stake in QuantumScape by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock worth $207,306,000 after purchasing an additional 796,723 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of QuantumScape in the second quarter worth about $1,950,000. Finally, American Century Companies Inc. lifted its position in shares of QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock worth $1,733,000 after buying an additional 316,361 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Performance

Shares of QS stock opened at $5.81 on Friday. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of -6.05 and a beta of 4.59. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66. QuantumScape has a one year low of $4.67 and a one year high of $10.03. The company’s 50-day moving average is $6.05 and its 200 day moving average is $5.86.

QuantumScape (NYSE:QS) last announced 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 prior year, the company earned ($0.26) EPS. Sell-side analysts expect that QuantumScape will post -0.9 EPS 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.