QuantumScape Corporation (NYSE:QS) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of QuantumScape Corporation (NYSE:QS) have been assigned an average rating of “Reduce” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.19.

A number of research analysts recently weighed in on the company. Robert W. Baird reduced their target price on QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group reduced their price objective on QuantumScape from $3.00 to $2.50 and set a “sell” rating on the stock in a research note on Monday, April 28th. Finally, UBS Group downgraded shares of QuantumScape from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $5.00 to $2.50 in a research report on Thursday, April 10th.

Insider Transactions at QuantumScape

In other news, insider Mohit Singh sold 325,000 shares of the company’s stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $7.21, for a total value of $2,343,250.00. Following the completion of the sale, the insider owned 1,641,711 shares of the company’s stock, valued at $11,836,736.31. This represents a 16.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fritz Prinz sold 61,523 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total value of $242,400.62. Following the completion of the sale, the director owned 231,530 shares of the company’s stock, valued at approximately $912,228.20. This trade represents a 20.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 747,951 shares of company stock worth $4,629,048. 12.03% of the stock is currently owned by insiders.

Institutional Trading of QuantumScape

A number of hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of QuantumScape in the fourth quarter valued at $1,527,000. Charles Schwab Investment Management Inc. boosted its position in QuantumScape by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company’s stock valued at $12,103,000 after buying an additional 104,894 shares during the last quarter. Vanguard Group Inc. boosted its position in QuantumScape by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock valued at $168,367,000 after buying an additional 956,072 shares during the last quarter. American Century Companies Inc. grew its stake in shares of QuantumScape by 1,091.5% during the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock valued at $2,244,000 after acquiring an additional 396,160 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC increased its position in shares of QuantumScape by 274.6% during the fourth quarter. Oak Harbor Wealth Partners LLC now owns 135,189 shares of the company’s stock worth $702,000 after acquiring an additional 99,100 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Price Performance

QuantumScape stock opened at $6.99 on Friday. QuantumScape has a 1 year low of $3.40 and a 1 year high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. The firm has a 50 day moving average price of $4.50 and a 200 day moving average price of $4.68. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -7.68 and a beta of 4.42.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). During the same quarter in the prior year, the business posted ($0.24) EPS. Sell-side analysts predict that QuantumScape will post -0.82 earnings per share for the current year.

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.