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

Key Points

• QuantumScape Corporation has received a consensus rating of "Reduce" from nine analysts, with three giving a sell recommendation and six a hold recommendation.
• Insider trading activity has seen significant sales, including a sale of 500,000 shares by insider Michael O. McCarthy III, demonstrating a 25.42% decrease in ownership.
• Institutional investors have increased their stakes in QuantumScape, with some firms like Signaturefd LLC boosting their holdings by over 2,000% in the first quarter.

Shares of QuantumScape Corporation (NYSE:QS - Get Free Report) have been given a consensus rating of "Reduce" by the nine analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $5.8833.

Several brokerages have issued reports on QS. TD Cowen upgraded shares of QuantumScape to a "hold" rating in a research note on Monday, July 7th. Robert W. Baird boosted their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of QuantumScape in a research note on Saturday, September 27th.

Insiders Place Their Bets

In other news, insider Michael O. Mccarthy III sold 500,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $11.60, for a total value of $5,800,000.00. Following the completion of the transaction, the insider directly owned 1,467,183 shares in the company, valued at $17,019,322.80. This trade represents a 25.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Timothy Holme sold 176,352 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $7.55, for a total value of $1,331,457.60. Following the completion of the sale, the chief technology officer directly owned 1,445,304 shares in the company, valued at $10,912,045.20. This represents a 10.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,327,870 shares of company stock valued at $26,819,135. Corporate insiders own 5.48% of the company's stock.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC grew its stake 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 acquiring an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of QuantumScape by 685.5% during the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock worth $25,000 after purchasing an additional 3,311 shares during the period. Federated Hermes Inc. boosted its holdings in shares of QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after purchasing an additional 5,438 shares during the period. Hollencrest Capital Management grew its position in QuantumScape by 333.3% during the first 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. Finally, North Capital Inc. acquired a new position in QuantumScape in the 2nd quarter valued at approximately $27,000. Institutional investors and hedge funds own 29.87% of the company's stock.

QuantumScape Price Performance

QS opened at $15.72 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. The stock has a market capitalization of $8.90 billion, a PE ratio of -18.28 and a beta of 4.85. QuantumScape has a 1 year low of $3.40 and a 1 year high of $16.68. The company's 50 day simple moving average is $9.91 and its 200 day simple moving average is $7.05.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). The business had revenue of $36.67 million during the quarter. During the same period in the prior year, the firm earned ($0.25) earnings per share. As a group, sell-side analysts expect that QuantumScape will post -0.82 EPS for the current 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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