QuantumScape Corporation (NYSE:QS) Receives Average Rating of “Reduce” from Analysts

Shares of QuantumScape Corporation (NYSE:QS) have been given an average recommendation of “Reduce” by the ten brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $5.90.

Several analysts have recently issued reports on QS shares. The Goldman Sachs Group decreased their price objective on QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a report on Monday, April 28th. Robert W. Baird upped their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, TD Cowen upgraded QuantumScape to a “hold” rating in a report on Monday, July 7th.

Insider Buying and Selling

In other QuantumScape news, CTO Timothy Holme sold 11,906 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $7.02, for a total value of $83,580.12. Following the sale, the chief technology officer directly owned 1,661,928 shares of the company’s stock, valued at approximately $11,666,734.56. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fritz Prinz sold 929,813 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $11.62, for a total value of $10,804,427.06. Following the completion of the sale, the director directly owned 161,343 shares in the company, valued at approximately $1,874,805.66. The trade was a 85.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,018,040 shares of company stock valued at $35,219,414 in the last three months. 5.48% of the stock is currently owned by insiders.

Institutional Trading of QuantumScape

A number of institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in QuantumScape by 685.5% in the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after purchasing an additional 3,311 shares during the period. North Capital Inc. purchased a new stake in QuantumScape in the second quarter valued at $27,000. Heck Capital Advisors LLC purchased a new stake in QuantumScape in the fourth quarter valued at $26,000. PNC Financial Services Group Inc. raised its position in QuantumScape by 54.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,565 shares of the company’s stock valued at $37,000 after purchasing an additional 1,963 shares during the period. Finally, Raiffeisen Bank International AG purchased a new stake in QuantumScape in the fourth quarter valued at $29,000. 29.87% of the stock is owned by institutional investors and hedge funds.

QuantumScape Stock Down 0.9%

NYSE QS opened at $9.01 on Monday. The stock’s 50 day moving average is $8.15 and its 200 day moving average is $5.65. The company has a current ratio of 16.40, a quick ratio of 16.40 and a debt-to-equity ratio of 0.03. QuantumScape has a 12 month low of $3.40 and a 12 month high of $15.03. The stock has a market cap of $5.10 billion, a PE ratio of -10.48 and a beta of 4.43.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). The business had revenue of $36.67 million during the quarter. During the same quarter in the previous year, the company posted ($0.25) earnings per share. Research analysts predict that QuantumScape will post -0.82 EPS for the current fiscal year.

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.