Analysts Set QuantumScape Co. (NYSE:QS) PT at $5.95

QuantumScape Co. (NYSE:QS) has been given an average rating of “Reduce” by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.14.

Several brokerages have commented on QS. Wolfe Research began coverage on QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Truist Financial restated a “hold” rating and issued a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research note on Monday, August 5th.

QuantumScape Trading Down 1.1 %

Shares of QS opened at $5.49 on Friday. The business has a 50-day moving average of $5.84 and a 200 day moving average of $5.86. QuantumScape has a fifty-two week low of $4.67 and a fifty-two week high of $10.03. The firm has a market cap of $2.74 billion, a P/E ratio of -5.72 and a beta of 4.58. 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 announced its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period in the prior year, the firm earned ($0.26) earnings per share. As a group, research analysts forecast that QuantumScape will post -0.9 EPS for the current year.

Insider Activity

In other news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total transaction of $76,931.68. Following the completion of the sale, the director now owns 254,103 shares in the company, valued at approximately $1,514,453.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CTO Timothy Holme sold 44,306 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total transaction of $270,709.66. Following the transaction, the chief technology officer now directly owns 1,168,496 shares of the company’s stock, valued at approximately $7,139,510.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total value of $76,931.68. Following the transaction, the director now directly owns 254,103 shares in the company, valued at $1,514,453.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,185,678 shares of company stock worth $7,196,577. 10.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently modified their holdings of QS. Mirae Asset Global Investments Co. Ltd. increased its stake in QuantumScape by 240.2% in 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. Norges Bank purchased a new position in QuantumScape in the 4th quarter worth approximately $18,482,000. Vanguard Group Inc. increased its stake in QuantumScape by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock worth $207,306,000 after purchasing an additional 796,723 shares during the period. Canada Pension Plan Investment Board purchased a new position in QuantumScape in the 2nd quarter worth approximately $1,950,000. Finally, American Century Companies Inc. increased its stake in QuantumScape by 880.6% in the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock worth $1,733,000 after purchasing an additional 316,361 shares during the period. 29.87% of the stock is owned by hedge funds and other 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.