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

QuantumScape Co. (NYSE:QS) has received a consensus rating of “Reduce” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $6.26.

Several equities analysts have recently commented on QS shares. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Truist Financial reissued a “hold” rating and issued a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th.

Insider Activity

In other news, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the transaction, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the completion of the sale, the director now owns 2,590,583 shares in the company, valued at approximately $14,325,923.99. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 763,337 shares of company stock valued at $4,156,865. 12.03% of the stock is currently owned by insiders.

Institutional Trading of QuantumScape

Several hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in shares of QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after purchasing an additional 133,000 shares in the last quarter. Geode Capital Management LLC increased its stake in QuantumScape by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after buying an additional 218,743 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of QuantumScape during the 2nd quarter worth about $1,950,000. Weiss Asset Management LP acquired a new stake in shares of QuantumScape in the 3rd quarter worth approximately $828,000. Finally, Sanctuary Advisors LLC bought a new position in shares of QuantumScape in the second quarter valued at approximately $680,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Price Performance

QS opened at $6.00 on Friday. QuantumScape has a twelve month low of $4.65 and a twelve month high of $10.03. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of -6.32 and a beta of 4.50. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $5.16 and a 200 day simple moving average of $5.65.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period last year, the firm earned ($0.23) earnings per share. Equities research analysts expect that QuantumScape will post -0.99 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.