QuantumScape Co. (NYSE:QS) Given Consensus Rating of “Reduce” by Brokerages

QuantumScape Co. (NYSE:QS) has earned an average recommendation of “Reduce” from the seven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.06.

A number of research firms have recently weighed in on QS. Truist Financial lowered their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th.

QuantumScape Stock Up 0.9 %

Shares of NYSE QS opened at $4.70 on Friday. QuantumScape has a 12-month low of $4.05 and a 12-month high of $9.52. The stock’s fifty day simple moving average is $4.86 and its two-hundred day simple moving average is $5.21. The stock has a market capitalization of $2.57 billion, a PE ratio of -5.00 and a beta of 4.45. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, analysts expect that QuantumScape will post -0.82 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In related news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.22, for a total value of $67,379.76. Following the transaction, the director now directly owns 228,287 shares of the company’s stock, valued at $1,191,658.14. This represents a 5.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the sale, the insider now directly owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 277,452 shares of company stock worth $1,542,942. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of large investors have recently bought and sold shares of QS. Norges Bank purchased a new stake in shares of QuantumScape in the 4th quarter valued at $17,762,000. Dimensional Fund Advisors LP lifted its position in QuantumScape by 55.2% during the fourth 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 period. Vanguard Group Inc. boosted its holdings in QuantumScape by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock valued at $168,367,000 after purchasing an additional 956,072 shares during the last quarter. Centiva Capital LP raised its stake in shares of QuantumScape by 479.0% during the 4th 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 last quarter. Finally, American Century Companies Inc. lifted its holdings 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 valued at $2,244,000 after buying an additional 396,160 shares during the period. Hedge funds and other 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.