QuantumScape (NYSE:QS) Upgraded to Hold at TD Cowen

TD Cowen upgraded shares of QuantumScape (NYSE:QS - Free Report) to a hold rating in a report released on Monday,Zacks.com reports.

Several other brokerages also recently commented on QS. UBS Group downgraded QuantumScape from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $5.00 to $2.50 in a research 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 research report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price target on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a report on Monday, April 28th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat, QuantumScape has a consensus rating of "Hold" and a consensus price target of $5.19.

QuantumScape Stock Performance

NYSE:QS traded up $0.13 during midday trading on Monday, reaching $9.22. The stock had a trading volume of 55,418,253 shares, compared to its average volume of 14,723,787. The stock has a market capitalization of $5.15 billion, a P/E ratio of -10.13 and a beta of 4.42. QuantumScape has a 1-year low of $3.40 and a 1-year high of $9.77. 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 firm's fifty day simple moving average is $5.00 and its 200-day simple moving average is $4.80.

QuantumScape (NYSE:QS - Get Free Report) last posted its quarterly earnings data 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 period last year, the company posted ($0.24) earnings per share. On average, equities research analysts forecast that QuantumScape will post -0.82 EPS for the current fiscal year.

Insider Activity at QuantumScape

In other QuantumScape news, CTO Timothy Holme sold 358,330 shares of QuantumScape stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $7.03, for a total transaction of $2,519,059.90. Following the sale, the chief technology officer owned 1,705,428 shares in the company, valued at $11,989,158.84. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mohit Singh sold 465,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the completion of the transaction, the insider owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. This represents a 22.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,589,468 shares of company stock worth $18,114,411. 12.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QS. Vanguard Group Inc. grew its stake in shares of QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after purchasing an additional 2,911,362 shares during the period. Geode Capital Management LLC boosted its stake in QuantumScape by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 5,882,031 shares of the company's stock valued at $30,538,000 after buying an additional 28,073 shares in the last quarter. Dimensional Fund Advisors LP grew its position in QuantumScape by 55.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company's stock valued at $30,183,000 after acquiring an additional 2,066,844 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock worth $19,799,000 after acquiring an additional 3,904,168 shares in the last quarter. Finally, Norges Bank acquired a new position in QuantumScape during the fourth quarter worth $17,762,000. Institutional investors and hedge funds 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.