QuantumScape Co. (NYSE:QS) Given Consensus Rating of “Reduce” by Analysts

QuantumScape Co. (NYSE:QS) has received a consensus recommendation of “Reduce” from the eight ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.26.

Several analysts have recently weighed in on the company. Wolfe Research started coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial reissued a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a report on Tuesday, November 19th.

QuantumScape Stock Performance

NYSE QS opened at $4.89 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. QuantumScape has a 1-year low of $4.65 and a 1-year high of $10.03. The firm has a market capitalization of $2.51 billion, a P/E ratio of -5.15 and a beta of 4.50. The business’s 50-day simple moving average is $5.21 and its 200-day simple moving average is $5.67.

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

Insiders Place Their Bets

In other news, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the transaction, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin Hettrich sold 29,667 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $5.10, for a total transaction of $151,301.70. Following the completion of the sale, the chief financial officer now directly owns 1,024,325 shares in the company, valued at approximately $5,224,057.50. This trade represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 858,302 shares of company stock valued at $4,701,379 over the last quarter. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds have recently made changes to their positions in QS. Signaturefd LLC increased its holdings in shares of QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after purchasing an additional 2,148 shares during the period. International Assets Investment Management LLC grew its position in QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares in the last quarter. CWM LLC increased its stake in QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after buying an additional 2,556 shares during the period. Alaska Wealth Advisors bought a new stake in shares of QuantumScape during the 2nd quarter worth about $49,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of QuantumScape in the 2nd quarter worth approximately $52,000. Institutional investors 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.