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

Shares of QuantumScape Co. (NYSE:QS) have been given a consensus rating of “Reduce” by the seven ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.26.

A number of brokerages recently commented on QS. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Truist Financial reissued a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Wolfe Research assumed coverage on shares of QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating on the stock. Finally, HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research report on Tuesday, November 19th.

QuantumScape Stock Performance

Shares of QS stock opened at $5.31 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The firm has a 50-day moving average of $5.20 and a 200-day moving average of $5.66. QuantumScape has a one year low of $4.65 and a one year high of $10.03. The company has a market cap of $2.72 billion, a P/E ratio of -5.59 and a beta of 4.50.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the previous year, the firm posted ($0.23) EPS. Equities research analysts forecast that QuantumScape will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the transaction, the director now directly owns 241,195 shares in the company, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 308,097 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the sale, the director now directly owns 2,563,767 shares in the company, valued at $13,587,965.10. This trade represents a 10.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 666,032 shares of company stock valued at $3,549,682 over the last three months. 12.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

Hedge funds and other institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board purchased a new stake in shares of QuantumScape in the second quarter worth $1,950,000. 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 acquiring an additional 316,361 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after acquiring an additional 218,743 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of QuantumScape during the 3rd quarter valued at about $828,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after purchasing an additional 133,000 shares in 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.