QuantumScape (NYSE:QS) Rating Lowered to Sell at UBS Group

UBS Group cut shares of QuantumScape (NYSE:QS - Free Report) from a neutral rating to a sell rating in a research report released on Thursday, MarketBeat Ratings reports. The brokerage currently has $2.50 price objective on the stock, down from their previous price objective of $5.00.

A number of other analysts also recently issued reports on QS. Truist Financial dropped their price objective on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a report on Friday, February 14th. Evercore ISI reaffirmed a "hold" rating on shares of QuantumScape in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, QuantumScape presently has an average rating of "Hold" and an average target price of $5.13.

QuantumScape Price Performance

NYSE:QS traded down $0.07 during mid-day trading on Thursday, hitting $3.74. 3,357,610 shares of the stock traded hands, compared to its average volume of 13,040,843. QuantumScape has a 12-month low of $3.40 and a 12-month high of $9.52. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.05 billion, a PE ratio of -3.98 and a beta of 4.37. The business's 50-day moving average price is $4.49 and its 200 day moving average price is $5.01.

Remove Ads

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.01). On average, analysts expect that QuantumScape will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Fritz Prinz sold 12,908 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.22, for a total transaction of $67,379.76. Following the sale, the director now owns 228,287 shares in the company, valued at approximately $1,191,658.14. The trade was a 5.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin Hettrich sold 53,975 shares of QuantumScape stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $282,289.25. Following the transaction, the chief financial officer now owns 930,800 shares of the company's stock, valued at $4,868,084. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,147 shares of company stock valued at $935,758 over the last ninety days. 12.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in QuantumScape in the fourth quarter worth approximately $17,762,000. Dimensional Fund Advisors LP increased its position in shares of QuantumScape by 55.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock valued at $30,183,000 after purchasing an additional 2,066,844 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of QuantumScape by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock worth $168,367,000 after buying an additional 956,072 shares during the last quarter. Centiva Capital LP grew its position in QuantumScape by 479.0% during the fourth quarter. Centiva Capital LP now owns 558,715 shares of the company's stock valued at $2,900,000 after buying an additional 462,218 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of QuantumScape by 1,091.5% in the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock worth $2,244,000 after purchasing an additional 396,160 shares in the last quarter. Institutional investors own 29.87% of the company's stock.

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.