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

Shares of QuantumScape Co. (NYSE:QS - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.26.

Several equities analysts have issued reports on QS shares. HSBC raised shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price objective on the stock in a research note on Tuesday, November 19th. Hsbc Global Res raised QuantumScape to a "hold" rating in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Truist Financial reiterated a "hold" rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th.

Insider Buying and Selling

In other news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $5,890,890.78. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $5.53, for a total value of $1,063,253.10. Following the transaction, the director now owns 2,590,583 shares of the company's stock, valued at $14,325,923.99. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 763,337 shares of company stock valued at $4,156,865. 12.03% of the stock is owned by insiders.

Institutional Trading of QuantumScape

A number of large investors have recently made changes to their positions in QS. Nisa Investment Advisors LLC grew its stake in QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company's stock worth $776,000 after acquiring an additional 133,000 shares during the period. Geode Capital Management LLC boosted 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 worth $33,671,000 after purchasing an additional 218,743 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of QuantumScape in the second quarter valued at $1,950,000. Weiss Asset Management LP acquired a new position in QuantumScape in the third quarter valued at $828,000. Finally, Sanctuary Advisors LLC purchased a new position in QuantumScape during the second quarter worth about $680,000. Institutional investors and hedge funds own 29.87% of the company's stock.

QuantumScape Stock Performance

Shares of QS traded up $0.46 during mid-day trading on Friday, reaching $6.00. 23,573,775 shares of the company's stock were exchanged, compared to its average volume of 21,475,238. The business's fifty day simple moving average is $5.16 and its 200-day simple moving average is $5.66. The stock has a market capitalization of $3.07 billion, a PE ratio of -6.32 and a beta of 4.50. QuantumScape has a 52-week low of $4.65 and a 52-week high of $10.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the firm posted ($0.23) earnings per share. On average, equities research analysts expect that QuantumScape will post -0.99 earnings per share for the current 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.