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

Key Points

• QuantumScape Corporation has received a consensus recommendation of "Reduce" from eight research firms, with two analysts rating the stock as a sell and six as a hold.
• The average one-year price target for QuantumScape shares is approximately $5.88, despite the stock recently trading at around $8.85.
• Insiders have sold a significant number of shares recently, with Mohit Singh selling 465,000 shares, reducing their position by 22.07%.

QuantumScape Corporation (NYSE:QS - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the eight research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $5.8833.

A number of equities analysts have weighed in on QS shares. TD Cowen raised shares of QuantumScape to a "hold" rating in a research note on Monday, July 7th. Robert W. Baird increased their price target on shares of QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th.

QuantumScape Stock Performance

NYSE:QS opened at $8.85 on Friday. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. The company has a market cap of $5.01 billion, a P/E ratio of -10.29 and a beta of 4.42. QuantumScape has a fifty-two week low of $3.40 and a fifty-two week high of $15.03. The firm's 50 day moving average is $9.27 and its two-hundred day moving average is $6.05.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million for the quarter. During the same quarter in the prior year, the company posted ($0.25) earnings per share. Analysts expect that QuantumScape will post -0.82 EPS for the current year.

Insider Buying and Selling at QuantumScape

In other news, insider Mohit Singh sold 465,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total value of $3,817,650.00. Following the transaction, the insider owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. This trade represents a 22.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fritz Prinz sold 929,813 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the completion of the transaction, the director directly owned 161,343 shares in the company, valued at approximately $1,874,805.66. This represents a 85.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,201,036 shares of company stock worth $36,884,712. 5.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC grew its holdings in QuantumScape by 2,086.1% during the 1st quarter. Signaturefd LLC now owns 6,121 shares of the company's stock valued at $25,000 after purchasing an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in QuantumScape by 685.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock valued at $25,000 after purchasing an additional 3,311 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in QuantumScape during the 4th quarter valued at $26,000. Federated Hermes Inc. grew its holdings in QuantumScape by 660.0% during the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock valued at $26,000 after purchasing an additional 5,438 shares in the last quarter. Finally, Hollencrest Capital Management grew its holdings in QuantumScape by 333.3% during the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.

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.

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