QuantumScape's (QS) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• QuantumScape's stock has been reaffirmed with a "sell (D-)" rating by Weiss Ratings, indicating a negative outlook from analysts.
• The average price target for QuantumScape is $5.88, with recent upgrades from other analysts placing the target between $6.00 and $11.00.
• Insider trading has seen significant activity, with executives selling a combined total of over 2.3 million shares recently.

QuantumScape (NYSE:QS - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other analysts also recently weighed in on QS. Robert W. Baird boosted their price target on QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. TD Cowen upgraded QuantumScape to a "hold" rating in a research note on Monday, July 7th. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $5.88.

QuantumScape Stock Down 0.1%

Shares of QS stock opened at $15.32 on Wednesday. QuantumScape has a 1-year low of $3.40 and a 1-year high of $17.77. The stock's fifty day moving average price is $10.16 and its 200 day moving average price is $7.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. The company has a market cap of $8.67 billion, a price-to-earnings ratio of -17.81 and a beta of 4.85.

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, meeting the consensus estimate of ($0.20). The firm had revenue of $36.67 million for the quarter. During the same quarter in the previous year, the firm posted ($0.25) EPS. On average, research analysts expect that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Timothy Holme sold 176,352 shares of the company's stock in a transaction dated 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 transaction, the chief technology officer owned 1,445,304 shares of the company's stock, valued at approximately $10,912,045.20. This represents a 10.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey B. Straubel sold 157,180 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $9.20, for a total value of $1,446,056.00. Following the completion of the transaction, the director directly owned 348,146 shares of the company's stock, valued at $3,202,943.20. The trade was a 31.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,327,870 shares of company stock worth $26,819,135. Corporate insiders own 5.48% of the company's stock.

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in QuantumScape by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock worth $147,064,000 after purchasing an additional 2,911,362 shares during the period. Geode Capital Management LLC raised its holdings in QuantumScape by 12.5% in the 2nd quarter. Geode Capital Management LLC now owns 6,914,680 shares of the company's stock worth $46,475,000 after purchasing an additional 768,070 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in QuantumScape by 456.5% in 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 worth $19,799,000 after purchasing an additional 3,904,168 shares during the period. Bank of America Corp DE raised its holdings in QuantumScape by 148.0% in the 2nd quarter. Bank of America Corp DE now owns 2,803,989 shares of the company's stock worth $18,843,000 after purchasing an additional 1,673,472 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in QuantumScape by 2,036.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company's stock worth $16,483,000 after purchasing an additional 2,338,038 shares during the period. 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.

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