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

Shares of QuantumScape Co. (NYSE:QS) have received a consensus rating of “Reduce” from the seven research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $6.06.

Several brokerages have recently weighed in on QS. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. Truist Financial reduced their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 76,315 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the sale, the insider now directly owns 1,010,523 shares of the company’s stock, valued at approximately $5,285,035.29. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Singh sold 97,305 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the sale, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 277,452 shares of company stock worth $1,542,942 in the last ninety days. 12.03% of the stock is owned by insiders.

Institutional Trading of QuantumScape

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of QuantumScape by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock worth $168,367,000 after acquiring an additional 956,072 shares during the period. State Street Corp increased its holdings in shares of QuantumScape by 1.5% in the 3rd quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after acquiring an additional 87,563 shares during the period. Geode Capital Management LLC increased its holdings in shares of QuantumScape by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 5,882,031 shares of the company’s stock worth $30,538,000 after acquiring an additional 28,073 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of QuantumScape by 55.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company’s stock worth $30,183,000 after acquiring an additional 2,066,844 shares during the period. Finally, Norges Bank acquired a new stake in shares of QuantumScape in the 4th quarter worth about $17,762,000. 29.87% of the stock is owned by institutional investors and hedge funds.

QuantumScape Price Performance

QuantumScape stock opened at $4.45 on Friday. The firm has a market capitalization of $2.43 billion, a P/E ratio of -4.73 and a beta of 4.45. The firm has a fifty day moving average of $4.91 and a 200-day moving average of $5.23. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape has a 52-week low of $4.05 and a 52-week high of $9.52.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). As a group, analysts predict that QuantumScape will post -0.82 EPS 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.