QuantumScape (NYSE:QS) Upgraded at TD Cowen

QuantumScape (NYSE:QS - Get Free Report) was upgraded by research analysts at TD Cowen to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on QS. UBS Group cut shares of QuantumScape from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Robert W. Baird dropped their target price on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, The Goldman Sachs Group dropped their target price on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.19.

QuantumScape Stock Performance

NYSE:QS opened at $7.02 on Monday. The company's 50 day moving average price is $4.62 and its 200-day moving average price is $4.70. QuantumScape has a 52 week low of $3.40 and a 52 week high of $9.52. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -7.71 and a beta of 4.42.

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

Insider Activity at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 61,523 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 231,530 shares in the company, valued at approximately $912,228.20. This trade represents a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mohit Singh sold 325,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 1,641,711 shares in the company, valued at $11,836,736.31. The trade was a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 747,951 shares of company stock worth $4,629,048 over the last quarter. Insiders own 12.03% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position in shares of QuantumScape by 91.4% during the 2nd quarter. Parallel Advisors LLC now owns 11,083 shares of the company's stock valued at $74,000 after purchasing an additional 5,292 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of QuantumScape by 456.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock valued at $19,799,000 after purchasing an additional 3,904,168 shares during the period. NewEdge Advisors LLC raised its position in shares of QuantumScape by 50.4% during the 1st quarter. NewEdge Advisors LLC now owns 21,224 shares of the company's stock valued at $88,000 after purchasing an additional 7,111 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of QuantumScape by 21.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 961,052 shares of the company's stock valued at $3,998,000 after purchasing an additional 170,173 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of QuantumScape during the 1st quarter valued at $321,000. 29.87% of the stock is currently owned by institutional investors.

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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