QuantumScape Co. (NYSE:QS) Given Average Rating of "Reduce" by Analysts

QuantumScape Co. (NYSE:QS - Get Free Report) has been given an average recommendation of "Reduce" by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $6.14.

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research began coverage on QuantumScape in a research report on Thursday, September 5th. They set an "underperform" rating for the company. Finally, Truist Financial reiterated a "hold" rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th.

QuantumScape Price Performance

QuantumScape stock traded down $0.11 during mid-day trading on Friday, hitting $4.74. The stock had a trading volume of 8,826,901 shares, compared to its average volume of 8,848,734. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm's 50 day moving average is $5.49 and its 200 day moving average is $5.76. The firm has a market capitalization of $2.43 billion, a P/E ratio of -4.99 and a beta of 4.60. QuantumScape has a one year low of $4.67 and a one year high of $10.03.

QuantumScape (NYSE:QS - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the previous year, the firm posted ($0.23) earnings per share. On average, sell-side analysts forecast that QuantumScape will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total value of $76,931.68. Following the sale, the director now directly owns 254,103 shares of the company's stock, valued at $1,514,453.88. This represents a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 50,575 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $5.99, for a total value of $302,944.25. Following the transaction, the insider now owns 1,184,745 shares of the company's stock, valued at $7,096,622.55. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 713,986 shares of company stock worth $4,148,984. 12.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company's stock worth $191,750,000 after purchasing an additional 656,646 shares during the period. Canada Pension Plan Investment Board acquired a new stake in QuantumScape in the second quarter worth about $1,950,000. American Century Companies Inc. grew its stake in shares of QuantumScape by 880.6% during the second quarter. American Century Companies Inc. now owns 352,286 shares of the company's stock worth $1,733,000 after acquiring an additional 316,361 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of QuantumScape by 3.9% during the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company's stock valued at $33,671,000 after acquiring an additional 218,743 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of QuantumScape in the 1st quarter valued at approximately $1,002,000. 29.87% of the stock is owned by institutional investors.

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.