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

QuantumScape Co. (NYSE:QS - Get Free Report) has earned a consensus recommendation of "Reduce" from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $6.26.

Several brokerages have issued reports on QS. Truist Financial reissued a "hold" rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. HSBC upgraded QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price for the company in a research report on Tuesday, November 19th. Finally, Hsbc Global Res upgraded shares of QuantumScape to a "hold" rating in a research note on Tuesday, November 19th.

Insider Activity at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 97,305 shares of the firm's stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the transaction, the insider now directly owns 1,092,020 shares of the company's stock, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the transaction, the director now owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 573,409 shares of company stock worth $3,090,581 over the last quarter. Insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV purchased a new position in QuantumScape in the second quarter valued at $68,000. Hsbc Holdings PLC boosted its holdings in QuantumScape by 36.0% during the second quarter. Hsbc Holdings PLC now owns 16,737 shares of the company's stock worth $82,000 after buying an additional 4,433 shares in the last quarter. Sei Investments Co. raised its position in QuantumScape by 80.8% during the second quarter. Sei Investments Co. now owns 20,533 shares of the company's stock worth $101,000 after acquiring an additional 9,176 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in QuantumScape by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company's stock valued at $413,000 after purchasing an additional 3,527 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in QuantumScape in the second quarter valued at $644,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Price Performance

Shares of NYSE QS traded up $0.14 during mid-day trading on Thursday, reaching $5.24. The company's stock had a trading volume of 5,510,720 shares, compared to its average volume of 16,260,992. The firm has a market capitalization of $2.68 billion, a PE ratio of -5.50 and a beta of 4.46. QuantumScape has a 52 week low of $4.65 and a 52 week high of $9.52. The stock has a fifty day moving average of $5.29 and a two-hundred day moving average of $5.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

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.