QuantumScape Corporation (NYSE:QS) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of QuantumScape Corporation (NYSE:QS) have been given an average rating of “Reduce” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $9.4667.

Separately, TD Cowen dropped their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Friday, July 24th.

QuantumScape Stock Performance

QuantumScape stock opened at $6.12 on Tuesday. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $6.46 and a 200-day moving average of $7.13. The firm has a market cap of $3.79 billion, a P/E ratio of -7.56 and a beta of 2.66. QuantumScape has a 1-year low of $4.77 and a 1-year high of $19.07.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. During the same period in the previous year, the company posted ($0.20) EPS. The company’s revenue was up .0% compared to the same quarter last year. Sell-side analysts expect that QuantumScape will post -0.82 EPS for the current year.

Insider Buying and Selling

In related news, CTO Timothy Holme sold 150,320 shares of QuantumScape stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $9.30, for a total value of $1,397,976.00. Following the sale, the chief technology officer owned 1,712,506 shares in the company, valued at $15,926,305.80. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Hettrich sold 9,800 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $7.28, for a total transaction of $71,344.00. Following the transaction, the chief financial officer directly owned 1,816,257 shares in the company, valued at approximately $13,222,350.96. The trade was a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 660,434 shares of company stock valued at $5,360,833. 3.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in QuantumScape in the fourth quarter worth about $29,321,000. Handelsbanken Fonder AB boosted its position in QuantumScape by 145.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 308,800 shares of the company’s stock valued at $2,335,000 after acquiring an additional 183,000 shares in the last quarter. Vanguard Group Inc. boosted its position in QuantumScape by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 40,959,061 shares of the company’s stock valued at $426,793,000 after acquiring an additional 4,323,829 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of QuantumScape by 134.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,035 shares of the company’s stock worth $36,570,000 after acquiring an additional 3,290,942 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of QuantumScape during the 4th quarter worth approximately $3,287,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.