QuantumScape Co. (NYSE:QS) Receives Consensus Rating of “Hold” from Analysts

Shares of QuantumScape Co. (NYSE:QS – Get Rating) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $23.33.

QS has been the topic of several recent analyst reports. UBS Group initiated coverage on QuantumScape in a research note on Friday, January 28th. They issued a “neutral” rating and a $18.00 price target on the stock. Sumitomo Mitsui Financial Group initiated coverage on QuantumScape in a research note on Tuesday, March 29th. They issued a “neutral” rating and a $20.00 price target on the stock. Zacks Investment Research upgraded QuantumScape from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft initiated coverage on QuantumScape in a research note on Tuesday, April 12th. They issued a “hold” rating and a $20.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price target on QuantumScape from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 22nd.

Shares of NYSE QS opened at $12.12 on Wednesday. The firm has a market cap of $5.21 billion, a P/E ratio of -19.55 and a beta of 7.88. The company has a current ratio of 48.57, a quick ratio of 48.57 and a debt-to-equity ratio of 0.03. QuantumScape has a 1-year low of $10.00 and a 1-year high of $43.08. The business’s 50 day moving average is $16.38 and its 200-day moving average is $20.59.

QuantumScape (NYSE:QS – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). During the same period in the previous year, the company posted ($0.12) earnings per share. Analysts forecast that QuantumScape will post -0.85 EPS for the current year.

In other QuantumScape news, CTO Timothy Holme sold 288,519 shares of QuantumScape stock in a transaction dated Wednesday, February 23rd. The stock was sold at an average price of $14.37, for a total transaction of $4,146,018.03. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mohit Singh sold 5,360 shares of QuantumScape stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $15.32, for a total value of $82,115.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 788,520 shares of company stock worth $12,869,296. 16.22% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC acquired a new position in shares of QuantumScape in the 3rd quarter valued at about $25,000. Ahrens Investment Partners LLC acquired a new position in shares of QuantumScape in the 4th quarter valued at about $25,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of QuantumScape in the 4th quarter valued at about $25,000. Moors & Cabot Inc. acquired a new position in shares of QuantumScape in the 3rd quarter valued at about $27,000. Finally, Atticus Wealth Management LLC acquired a new position in shares of QuantumScape in the 1st quarter valued at about $27,000. 25.68% of the stock is currently owned by hedge funds and other institutional investors.

About QuantumScape (Get Rating)

QuantumScape Corporation, a 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.

Read More