QuantumScape Corporation (NYSE:QS) Receives Average Rating of “Reduce” from Brokerages

QuantumScape Corporation (NYSE:QSGet 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

In other news, CTO Timothy Holme sold 102,991 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total value of $749,774.48. Following the completion of the transaction, the chief technology officer owned 1,712,506 shares of the company’s stock, valued at $12,467,043.68. The trade was a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin Hettrich sold 9,800 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total value of $71,344.00. Following the completion of the sale, the chief financial officer owned 1,816,257 shares in the company, valued at $13,222,350.96. The trade was a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 331,444 shares of company stock valued at $2,076,771 in the last quarter. Company insiders own 3.93% of the company’s stock.

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:QSGet 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

(Get Free Report)

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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Analyst Recommendations for QuantumScape (NYSE:QS)

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