QuantumScape Corporation (NYSE:QS) Receives Average Rating of "Reduce" from Brokerages

Shares of QuantumScape Corporation (NYSE:QS - Get Free Report) have earned an average rating of "Reduce" from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $5.19.

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

QuantumScape Stock Performance

QS traded up $0.38 during trading on Friday, reaching $6.74. 24,105,283 shares of the company's stock were exchanged, compared to its average volume of 14,022,933. The company has a market capitalization of $3.76 billion, a P/E ratio of -7.41 and a beta of 4.41. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03. QuantumScape has a fifty-two week low of $3.40 and a fifty-two week high of $9.52. The business has a 50 day moving average price of $4.39 and a 200 day moving average price of $4.65.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). During the same quarter in the previous year, the business posted ($0.24) EPS. As a group, analysts predict that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other news, Director Fritz Prinz sold 61,523 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $3.94, for a total value of $242,400.62. Following the completion of the transaction, the director owned 231,530 shares in the company, valued at $912,228.20. This trade represents a 20.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mohit Singh sold 325,000 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $7.21, for a total transaction of $2,343,250.00. Following the completion of the sale, the insider directly owned 1,641,711 shares in the company, valued at $11,836,736.31. This represents a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 747,951 shares of company stock worth $4,629,048 over the last three months. Insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QS. Private Advisor Group LLC raised its position in QuantumScape by 47.3% in the fourth quarter. Private Advisor Group LLC now owns 61,356 shares of the company's stock worth $318,000 after acquiring an additional 19,704 shares during the period. Handelsbanken Fonder AB boosted its position in shares of QuantumScape by 2.0% during 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 during the last quarter. SVB Wealth LLC purchased a new stake in shares of QuantumScape in the fourth quarter worth about $67,000. Norden Group LLC purchased a new position in shares of QuantumScape in the fourth quarter valued at $143,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of QuantumScape in the 4th quarter worth about $386,000. 29.87% of the stock is owned by institutional investors.

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.