QuantumScape (NYSE:QS) Downgraded to “Sell” Rating by UBS Group

QuantumScape (NYSE:QS) was downgraded by investment analysts at UBS Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $2.50 price objective on the stock, down from their prior price objective of $5.00. UBS Group’s target price indicates a potential downside of 33.60% from the stock’s previous close.

QS has been the subject of several other research reports. Truist Financial lowered their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.13.

QuantumScape Price Performance

QS stock opened at $3.77 on Thursday. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -4.01 and a beta of 4.37. The company’s fifty day simple moving average is $4.51 and its 200 day simple moving average is $5.03. QuantumScape has a 12-month low of $3.40 and a 12-month high of $9.52.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). On average, analysts expect that QuantumScape will post -0.82 earnings per share for the current year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 76,315 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $399,127.45. Following the transaction, the insider now directly owns 1,010,523 shares in the company, valued at approximately $5,285,035.29. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.22, for a total transaction of $67,379.76. Following the completion of the sale, the director now owns 228,287 shares of the company’s stock, valued at approximately $1,191,658.14. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,147 shares of company stock worth $935,758. 12.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new position in shares of QuantumScape during the 4th quarter worth approximately $26,000. Raiffeisen Bank International AG purchased a new stake in shares of QuantumScape during the fourth quarter valued at approximately $29,000. Blue Trust Inc. lifted its holdings in QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after acquiring an additional 4,556 shares during the period. Atlas Legacy Advisors LLC purchased a new position in QuantumScape in the fourth quarter worth $53,000. Finally, Empowered Funds LLC bought a new position in QuantumScape in the 4th quarter valued at $53,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.