QuantumScape Co. (NYSE:QS) Receives $5.95 Consensus PT from Analysts

QuantumScape Co. (NYSE:QS) has received a consensus rating of “Reduce” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $5.95.

A number of research analysts have recently weighed in on the stock. Truist Financial restated a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, Wolfe Research started coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company.

QuantumScape Stock Performance

Shares of NYSE QS opened at $6.01 on Friday. QuantumScape has a 1 year low of $4.67 and a 1 year high of $10.03. The firm has a market cap of $3.00 billion, a P/E ratio of -6.26 and a beta of 4.59. The stock has a fifty day moving average price of $6.01 and a two-hundred day moving average price of $5.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period in the previous year, the business posted ($0.26) EPS. Research analysts forecast that QuantumScape will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jagdeep Singh sold 79,006 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $5.03, for a total value of $397,400.18. Following the transaction, the director now owns 2,809,253 shares in the company, valued at $14,130,542.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Jagdeep Singh sold 79,006 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $5.03, for a total value of $397,400.18. Following the transaction, the director now owns 2,809,253 shares of the company’s stock, valued at approximately $14,130,542.59. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mohit Singh sold 173,224 shares of QuantumScape stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the transaction, the insider now directly owns 1,196,905 shares in the company, valued at $8,426,211.20. The disclosure for this sale can be found here. Insiders sold a total of 1,264,684 shares of company stock valued at $7,593,977 in the last three months. Insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of QS. 180 Wealth Advisors LLC raised its holdings in QuantumScape by 2.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock worth $392,000 after acquiring an additional 2,059 shares during the last quarter. CWM LLC lifted its holdings in shares of QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares in the last quarter. Carson Advisory Inc. boosted its position in shares of QuantumScape by 13.6% during the first quarter. Carson Advisory Inc. now owns 24,250 shares of the company’s stock valued at $153,000 after buying an additional 2,900 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in QuantumScape by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after buying an additional 3,527 shares in the last quarter. Finally, Arizona State Retirement System raised its position in QuantumScape by 4.6% in the 2nd quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock worth $486,000 after buying an additional 4,330 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors.

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.