QuantumScape Corporation (NYSE:QS – Get Free Report) has been assigned an average recommendation of “Reduce” from the six analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $9.4667.
Separately, TD Cowen dropped their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, July 24th.
Get Our Latest Report on QuantumScape
Insider Transactions at QuantumScape
Hedge Funds Weigh In On QuantumScape
Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in QuantumScape by 16.7% in the 4th quarter. Geode Capital Management LLC now owns 8,327,604 shares of the company’s stock valued at $86,794,000 after purchasing an additional 1,189,748 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in QuantumScape by 134.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,035 shares of the company’s stock valued at $36,570,000 after acquiring an additional 3,290,942 shares during the last quarter. Norges Bank acquired a new position in shares of QuantumScape during the 4th quarter worth approximately $29,321,000. Clear Street Group Inc. purchased a new stake in shares of QuantumScape in the fourth quarter valued at approximately $10,314,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of QuantumScape in the second quarter valued at approximately $9,619,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.
QuantumScape Stock Down 2.7%
Shares of QS stock opened at $5.03 on Friday. QuantumScape has a fifty-two week low of $4.77 and a fifty-two week high of $19.07. The firm has a market capitalization of $3.11 billion, a PE ratio of -6.21 and a beta of 2.68. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14. The stock’s 50-day simple moving average is $5.64 and its 200-day simple moving average is $6.71.
QuantumScape (NYSE:QS – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. During the same period in the previous year, the business posted ($0.20) earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts expect that QuantumScape will post -0.82 earnings per share for the current year.
QuantumScape Company Profile
QuantumScape Corporation (NYSE: QS) is a battery technology company developing solid-state lithium-metal batteries for electric vehicles and other energy-storage applications. Its technology is designed to replace the liquid electrolyte used in conventional lithium-ion batteries with a solid ceramic separator, with the goal of improving energy density, charging performance, safety and operating range.
The company is focused on designing, testing and scaling prototype cells rather than selling mass-produced batteries.
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