QuantumScape Corporation (NYSE:QS) Receives Consensus Rating of “Reduce” from Brokerages

QuantumScape Corporation (NYSE:QS) has received a consensus recommendation of “Reduce” from the nine analysts that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $8.9750.

Several analysts have issued reports on QS shares. Evercore reaffirmed an “in-line” rating and issued a $12.00 target price (up from $8.00) on shares of QuantumScape in a research note on Monday, November 24th. Robert W. Baird set a $12.00 price objective on shares of QuantumScape in a report on Thursday, February 12th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and reduced their target price for the company from $10.50 to $8.30 in a report on Wednesday, February 18th. TD Cowen reissued a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. Finally, Morgan Stanley cut their price target 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.

QuantumScape Trading Down 1.1%

NYSE QS opened at $6.92 on Friday. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The stock’s 50-day simple moving average is $9.14 and its two-hundred day simple moving average is $11.33. QuantumScape has a twelve month low of $3.40 and a twelve month high of $19.07. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of -8.54 and a beta of 2.51.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). QuantumScape’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.22) earnings per share. Research analysts forecast that QuantumScape will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling

In other QuantumScape news, Director Jeffrey B. Straubel sold 157,171 shares of QuantumScape stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $11.38, for a total value of $1,788,605.98. Following the transaction, the director directly owned 266,828 shares of the company’s stock, valued at $3,036,502.64. The trade was a 37.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Timothy Holme sold 166,440 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $11.28, for a total value of $1,877,443.20. Following the sale, the chief technology officer directly owned 1,251,383 shares of the company’s stock, valued at approximately $14,115,600.24. This trade represents a 11.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,945,241 shares of company stock worth $43,276,439 in the last ninety days. 5.48% of the stock is owned by insiders.

Hedge Funds Weigh In On QuantumScape

Hedge funds have recently modified their holdings of the company. Tsfg LLC boosted its holdings in shares of QuantumScape by 233.3% during the third quarter. Tsfg LLC now owns 2,000 shares of the company’s stock worth $25,000 after purchasing an additional 1,400 shares during the period. REAP Financial Group LLC raised its position in QuantumScape by 300.0% during the 3rd quarter. REAP Financial Group LLC now owns 2,000 shares of the company’s stock valued at $25,000 after purchasing an additional 1,500 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in QuantumScape during the 4th quarter valued at approximately $25,000. Russell Investments Group Ltd. lifted its holdings in QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock worth $25,000 after buying an additional 3,311 shares during the period. Finally, North Capital Inc. bought a new stake in shares of QuantumScape in the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.