QuantumScape Corporation (NYSE:QS) Stock Has Consensus Price Target of $9.47

Key Points

• Analysts remain cautious: QuantumScape has an average “Reduce” rating, with five holds and one sell. The consensus 12-month price target is $9.47, while TD Cowen recently cut its target from $8 to $6 and maintained a “Hold” rating.
• Shares opened at $4.65, near the company’s 12-month low of $4.46 and below its 50-day and 200-day moving averages. QuantumScape reported a quarterly loss of $0.16 per share, which was better than the consensus estimate of a $0.18 loss.
• Insiders have been selling: CTO Timothy Holme sold 75,000 shares, and insiders have sold 174,599 shares worth about $928,471 over the past three months. Institutional investors own approximately 29.87% of the company.

Shares of QuantumScape Corporation (NYSE:QS - Get Free Report) have been given an average rating of "Reduce" by the six research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $9.47.

Separately, TD Cowen dropped their price objective on QuantumScape from $8.00 to $6.00 and set a "hold" rating for the company in a report on Friday, July 24th.

QuantumScape Stock Performance

Shares of NYSE:QS opened at $4.65 on Wednesday. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $5.40 and a 200-day moving average price of $6.53. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -5.74 and a beta of 2.83. QuantumScape has a 12 month low of $4.46 and a 12 month high of $19.07.

QuantumScape (NYSE:QS - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. During the same period in the prior year, the firm earned ($0.20) earnings per share. QuantumScape's revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts anticipate that QuantumScape will post -0.82 EPS for the current year.

Insider Buying and Selling

In other news, CTO Timothy Holme sold 75,000 shares of QuantumScape stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $5.09, for a total transaction of $381,750.00. Following the sale, the chief technology officer owned 1,583,075 shares of the company's stock, valued at approximately $8,057,851.75. The trade was a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 174,599 shares of company stock valued at $928,471. 3.93% of the stock is currently owned by corporate insiders.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. grew its holdings in shares of QuantumScape by 23.7% during the 2nd quarter. QRG Capital Management Inc. now owns 14,316 shares of the company's stock worth $108,000 after acquiring an additional 2,746 shares during the period. Maven Securities LTD bought a new stake in shares of QuantumScape during the second quarter valued at approximately $664,000. NewEdge Advisors LLC boosted its position in shares of QuantumScape by 15.6% during the second quarter. NewEdge Advisors LLC now owns 73,905 shares of the company's stock valued at $559,000 after purchasing an additional 9,995 shares in the last quarter. Arizona State Retirement System grew its stake in QuantumScape by 10.5% in the second quarter. Arizona State Retirement System now owns 126,992 shares of the company's stock worth $960,000 after purchasing an additional 12,081 shares during the period. Finally, Nykredit A S purchased a new stake in QuantumScape in the second quarter worth $112,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

About QuantumScape

QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries for electric vehicles and other applications. Its technology is designed to replace conventional lithium-ion battery components, including the graphite anode, with a lithium-metal anode and a solid ceramic separator.

The company is developing battery cells intended to offer higher energy density, faster charging, improved safety and longer operating range than many conventional lithium-ion batteries.

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