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

QuantumScape Co. (NYSE:QS) has earned an average rating of “Reduce” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $6.26.

A number of brokerages have recently commented on QS. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Finally, Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th.

QuantumScape Price Performance

NYSE:QS opened at $6.00 on Friday. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $5.16 and its 200 day moving average price is $5.65. QuantumScape has a 52-week low of $4.65 and a 52-week high of $10.03. The firm has a market cap of $3.07 billion, a P/E ratio of -6.32 and a beta of 4.50.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period last year, the company posted ($0.23) EPS. As a group, sell-side analysts predict that QuantumScape will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other QuantumScape news, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the transaction, the director now owns 2,590,583 shares in the company, valued at $12,978,820.83. The trade was a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the sale, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 763,337 shares of company stock worth $4,156,865 in the last 90 days. Company insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of QS. Signaturefd LLC raised its stake in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after acquiring an additional 2,148 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares during the last quarter. Centaurus Financial Inc. acquired a new position in QuantumScape in the 2nd quarter valued at $52,000. Atom Investors LP bought a new position in QuantumScape in the 3rd quarter worth $60,000. Finally, CIBC Asset Management Inc acquired a new position in QuantumScape during the 2nd quarter worth $61,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Company Profile

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.