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

QuantumScape Co. (NYSE:QS) has received an average rating of “Reduce” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $6.14.

Several brokerages recently commented on QS. Wolfe Research began coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Truist Financial restated a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Monday, August 5th.

Insider Buying and Selling

In related news, Director Jagdeep Singh sold 113,264 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $5.04, for a total value of $570,850.56. Following the transaction, the director now directly owns 2,809,253 shares in the company, valued at approximately $14,158,635.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Timothy Holme sold 44,306 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total value of $270,709.66. Following the completion of the sale, the chief technology officer now directly owns 1,168,496 shares of the company’s stock, valued at approximately $7,139,510.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jagdeep Singh sold 113,264 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $5.04, for a total value of $570,850.56. Following the completion of the sale, the director now directly owns 2,809,253 shares of the company’s stock, valued at $14,158,635.12. The disclosure for this sale can be found here. Insiders have sold a total of 1,185,678 shares of company stock worth $7,196,577 in the last ninety days. Corporate insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of QuantumScape by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after purchasing an additional 656,646 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of QuantumScape by 240.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after purchasing an additional 3,004,964 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of QuantumScape by 10.3% during the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after purchasing an additional 251,186 shares during the last quarter. Norges Bank purchased a new stake in shares of QuantumScape during the 4th quarter valued at $18,482,000. Finally, Board of Trustees of The Leland Stanford Junior University increased its position in shares of QuantumScape by 5.2% during the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock valued at $18,144,000 after purchasing an additional 129,239 shares during the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

QuantumScape Stock Performance

Shares of QS stock opened at $5.49 on Friday. The business’s 50 day simple moving average is $5.84 and its 200 day simple moving average is $5.86. QuantumScape has a one year low of $4.67 and a one year high of $10.03. The stock has a market capitalization of $2.74 billion, a PE ratio of -5.72 and a beta of 4.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter last year, the company posted ($0.26) earnings per share. As a group, research analysts forecast that QuantumScape will post -0.9 earnings per share for the current year.

QuantumScape Company Profile

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.