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

QuantumScape Co. (NYSE:QS) has been assigned a consensus rating of “Reduce” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $5.94.

Several brokerages have weighed in on QS. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. Wolfe Research initiated coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Finally, Truist Financial lowered their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th.

Insider Buying and Selling at QuantumScape

In other news, insider Michael O. Mccarthy III sold 222,476 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $6.58, for a total value of $1,463,892.08. Following the sale, the insider now directly owns 1,283,847 shares in the company, valued at approximately $8,447,713.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Michael O. Mccarthy III sold 222,476 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the completion of the sale, the insider now owns 1,283,847 shares in the company, valued at approximately $8,447,713.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.50, for a total value of $1,057,485.00. Following the transaction, the director now owns 2,809,253 shares in the company, valued at approximately $15,450,891.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,126,067 shares of company stock worth $6,659,475 over the last quarter. Insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several hedge funds have recently modified their holdings of the stock. Signaturefd LLC raised its stake in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares during the last quarter. CWM LLC increased its holdings in shares of QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares during the period. Mather Group LLC. purchased a new position in shares of QuantumScape in the second quarter worth about $36,000. Alaska Wealth Advisors acquired a new stake in shares of QuantumScape during the second quarter worth about $49,000. Finally, Evergreen Wealth Solutions LLC purchased a new stake in QuantumScape in the first quarter valued at approximately $64,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Price Performance

QuantumScape stock opened at $5.20 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -5.41 and a beta of 4.58. The firm has a 50-day moving average of $5.69 and a two-hundred day moving average of $5.81. QuantumScape has a 1 year low of $4.67 and a 1 year high of $10.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter in the previous year, the firm posted ($0.26) earnings per share. On average, research analysts forecast that QuantumScape will post -0.9 earnings per share for the current 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.