QuantumScape Co. (NYSE:QS) Receives Average Recommendation of “Reduce” from Brokerages

Shares of QuantumScape Co. (NYSE:QS) have been assigned a consensus recommendation of “Reduce” from the seven analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $6.06.

Several brokerages have issued reports on QS. Truist Financial reduced their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th.

Insider Activity

In related news, insider Michael O. Mccarthy III sold 76,315 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the completion of the transaction, the insider now owns 1,010,523 shares of the company’s stock, valued at approximately $5,285,035.29. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the transaction, the insider now directly owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 277,452 shares of company stock valued at $1,542,942 over the last 90 days. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently bought and sold shares of QS. Prospera Financial Services Inc increased its position in QuantumScape by 34.4% during the third quarter. Prospera Financial Services Inc now owns 129,143 shares of the company’s stock worth $743,000 after purchasing an additional 33,065 shares during the last quarter. Strategy Asset Managers LLC acquired a new stake in shares of QuantumScape in the third quarter worth $108,000. Moors & Cabot Inc. acquired a new stake in shares of QuantumScape in the third quarter worth $80,000. Charles Schwab Investment Management Inc. increased its position in shares of QuantumScape by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $12,806,000 after acquiring an additional 93,826 shares in the last quarter. Finally, Nwam LLC acquired a new stake in shares of QuantumScape in the third quarter worth $64,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Stock Down 1.0 %

QS stock opened at $4.45 on Friday. The company has a market cap of $2.43 billion, a P/E ratio of -4.73 and a beta of 4.45. QuantumScape has a 52 week low of $4.05 and a 52 week high of $9.52. The company’s 50-day moving average price is $4.91 and its 200 day moving average price is $5.23. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). On average, research analysts expect that QuantumScape will post -0.82 earnings per share for the current fiscal year.

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.