QuantumScape Corporation (NYSE:QS) Given Consensus Rating of "Reduce" by Analysts

QuantumScape Corporation (NYSE:QS - Get Free Report) has been assigned an average rating of "Reduce" from the nine analysts that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $5.19.

Several analysts have commented on QS shares. Robert W. Baird lowered their price objective on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Finally, UBS Group lowered shares of QuantumScape from a "neutral" rating to a "sell" rating and lowered their price target for the company from $5.00 to $2.50 in a research report on Thursday, April 10th.

Insider Activity at QuantumScape

In other news, Director Fritz Prinz sold 61,523 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total value of $242,400.62. Following the completion of the sale, the director now owns 231,530 shares of the company's stock, valued at approximately $912,228.20. This represents a 20.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mohit Singh sold 71,428 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $4.41, for a total transaction of $314,997.48. Following the sale, the insider now owns 1,640,998 shares of the company's stock, valued at $7,236,801.18. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 747,951 shares of company stock valued at $4,629,048. Corporate insiders own 12.03% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its stake in shares of QuantumScape by 47.3% in the 4th quarter. Private Advisor Group LLC now owns 61,356 shares of the company's stock worth $318,000 after buying an additional 19,704 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in QuantumScape by 2.0% in the fourth quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company's stock worth $595,000 after acquiring an additional 2,300 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of QuantumScape in the fourth quarter worth $67,000. Norden Group LLC purchased a new stake in shares of QuantumScape in the fourth quarter worth $143,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of QuantumScape in the fourth quarter worth $386,000. 29.87% of the stock is currently owned by institutional investors.

QuantumScape Stock Down 13.5%

QS opened at $6.62 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.66 and a quick ratio of 16.66. The company's 50-day moving average is $4.28 and its 200 day moving average is $4.63. QuantumScape has a fifty-two week low of $3.40 and a fifty-two week high of $9.52. The firm has a market capitalization of $3.70 billion, a P/E ratio of -7.27 and a beta of 4.27.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same quarter in the prior year, the company earned ($0.24) EPS. Research analysts expect that QuantumScape will post -0.82 earnings per share for the current fiscal 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.

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