Shares of QuantumScape Corporation (NYSE:QS – Get Free Report) have been given an average rating of “Hold” by the five analysts that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $9.47.
Separately, TD Cowen cut 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.
Check Out Our Latest Stock Analysis on QS
QuantumScape Stock Down 3.5%
QuantumScape (NYSE:QS – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. During the same period last year, the company earned ($0.20) EPS. The firm’s revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that QuantumScape will post -0.82 EPS for the current year.
Insider Activity at QuantumScape
In other QuantumScape news, CTO Timothy Holme sold 45,000 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $4.54, for a total transaction of $204,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 294,599 shares of company stock worth $1,473,271 over the last three months. Corporate insiders own 3.93% of the company’s stock.
Institutional Trading of QuantumScape
Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position 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 in the last quarter. Norges Bank bought a new stake in shares of QuantumScape during the fourth quarter worth $29,321,000. Bank of New York Mellon Corp bought a new position in QuantumScape in the second quarter valued at about $9,619,000. Clear Street Group Inc. acquired a new stake in QuantumScape in the fourth quarter worth about $10,314,000. Finally, SG Americas Securities LLC lifted its position in QuantumScape by 219.8% during the 1st quarter. SG Americas Securities LLC now owns 307,363 shares of the company’s stock valued at $1,961,000 after purchasing an additional 563,842 shares during the period. Institutional investors and hedge funds own 29.87% of the company’s stock.
About QuantumScape
QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries for electric vehicles and other applications. Its technology is designed to replace conventional lithium-ion battery components, including the graphite anode, with a lithium-metal anode and a solid ceramic separator.
The company is developing battery cells intended to offer higher energy density, faster charging, improved safety and longer operating range than many conventional lithium-ion batteries.
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