QuantumScape Co. (NYSE:QS) Given Average Rating of “Reduce” by Analysts

QuantumScape Co. (NYSE:QS) has been assigned an average rating of “Reduce” from the seven analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $5.94.

A number of research firms have weighed in on QS. Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. Truist Financial cut their price target on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the sale, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at $5,890,890.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at $5,890,890.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jagdeep Singh sold 192,270 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the sale, the director now owns 2,590,583 shares in the company, valued at $14,325,923.99. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,126,067 shares of company stock worth $6,659,475. Corporate insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of QuantumScape by 240.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after purchasing an additional 3,004,964 shares during the period. Vanguard Group Inc. boosted its position in shares of QuantumScape by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock valued at $207,306,000 after buying an additional 796,723 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of QuantumScape during the second quarter valued at approximately $1,950,000. American Century Companies Inc. raised its holdings in shares of QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock worth $1,733,000 after buying an additional 316,361 shares during the period. Finally, Baillie Gifford & Co. lifted its stake in shares of QuantumScape by 10.3% during the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock worth $16,854,000 after acquiring an additional 251,186 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Trading Down 1.6 %

NYSE:QS opened at $5.20 on Tuesday. QuantumScape has a one year low of $4.67 and a one year high of $10.03. The business has a fifty day moving average price of $5.69 and a 200-day moving average price of $5.81. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -5.41 and a beta of 4.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66.

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