QuantumScape Corporation (NYSE:QS) Receives $9.90 Average Price Target from Analysts

QuantumScape Corporation (NYSE:QS) has been assigned an average recommendation of “Reduce” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.1333.

A number of brokerages have weighed in on QS. Robert W. Baird set a $12.00 price target on shares of QuantumScape in a research note on Thursday, February 12th. Morgan Stanley lowered their price objective on shares of QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and dropped their price objective for the stock from $10.50 to $8.30 in a report on Wednesday, February 18th. Finally, TD Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th.

Insider Transactions at QuantumScape

In other news, insider Michael O. Mccarthy III sold 45,000 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $6.73, for a total value of $302,850.00. Following the sale, the insider directly owned 954,219 shares in the company, valued at $6,421,893.87. The trade was a 4.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Timothy Holme sold 127,077 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $6.18, for a total value of $785,335.86. Following the transaction, the chief technology officer owned 1,108,182 shares of the company’s stock, valued at approximately $6,848,564.76. The trade was a 10.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 666,925 shares of company stock valued at $4,483,577. 5.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Hedge funds have recently made changes to their positions in the business. Morgan Stanley lifted its position in shares of QuantumScape by 333.5% in the fourth quarter. Morgan Stanley now owns 11,126,497 shares of the company’s stock worth $115,938,000 after purchasing an additional 8,559,554 shares in the last quarter. Renaissance Technologies LLC bought a new position in QuantumScape in the fourth quarter valued at $84,584,000. Vanguard Group Inc. increased its stake in QuantumScape by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 40,959,061 shares of the company’s stock valued at $426,793,000 after buying an additional 4,323,829 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in QuantumScape by 456.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock valued at $19,799,000 after buying an additional 3,904,168 shares during the last quarter. Finally, Man Group plc bought a new stake in QuantumScape during the 3rd quarter worth about $44,421,000. 29.87% of the stock is owned by institutional investors.

QuantumScape Stock Performance

QS stock opened at $7.06 on Friday. QuantumScape has a 1-year low of $3.75 and a 1-year high of $19.07. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm has a market cap of $4.32 billion, a PE ratio of -8.72 and a beta of 2.54. The business’s 50-day moving average price is $6.80 and its two-hundred day moving average price is $10.30.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. During the same period in the prior year, the company earned ($0.21) earnings per share. As a group, research analysts forecast that QuantumScape will post -0.82 earnings per share for the current year.

About QuantumScape

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.