QuantumScape Co. (NYSE:QS) Receives Consensus Rating of "Reduce" from Brokerages

Shares of QuantumScape Co. (NYSE:QS - Get Free Report) have received a consensus recommendation of "Reduce" from the eight analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.95.

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Truist Financial reaffirmed a "hold" rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Monday, August 5th. Finally, Wolfe Research began coverage on QuantumScape in a report on Thursday, September 5th. They set an "underperform" rating for the company.

Insider Buying and Selling at QuantumScape

In related news, insider Mohit Singh sold 173,224 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $7.04, for a total value of $1,219,496.96. Following the completion of the transaction, the insider now owns 1,196,905 shares of the company's stock, valued at approximately $8,426,211.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Jagdeep Singh sold 192,270 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total value of $1,151,697.30. Following the completion of the transaction, the director now owns 2,590,583 shares of the company's stock, valued at $15,517,592.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Singh sold 173,224 shares of the firm's stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the completion of the transaction, the insider now owns 1,196,905 shares of the company's stock, valued at approximately $8,426,211.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,290,500 shares of company stock worth $7,719,701 over the last 90 days. Insiders own 10.18% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC raised its holdings in QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company's stock worth $35,000 after purchasing an additional 2,556 shares during the last quarter. Mather Group LLC. bought a new position in QuantumScape during the second quarter worth $36,000. Alaska Wealth Advisors acquired a new position in QuantumScape in the second quarter valued at $49,000. Centaurus Financial Inc. bought a new stake in QuantumScape during the second quarter valued at $52,000. Finally, StepStone Group LP acquired a new stake in QuantumScape during the 4th quarter worth about $56,000. 29.87% of the stock is owned by institutional investors and hedge funds.

QuantumScape Stock Up 3.4 %

QuantumScape stock traded up $0.20 during midday trading on Friday, reaching $6.00. The stock had a trading volume of 7,354,158 shares, compared to its average volume of 8,573,071. QuantumScape has a 1-year low of $4.67 and a 1-year high of $10.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66. The firm's fifty day simple moving average is $6.05 and its 200-day simple moving average is $5.86. The stock has a market capitalization of $3.04 billion, a P/E ratio of -6.36 and a beta of 4.59.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter in the previous year, the business posted ($0.26) EPS. As a group, analysts expect that QuantumScape will post -0.9 EPS for the current fiscal 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.