Weiss Ratings Reaffirms "Sell (D-)" Rating for QuantumScape (NYSE:QS)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for QuantumScape (NYSE:QS), indicating concerns about the company's financial performance and outlook.
• The stock has an average target price of $6.47, with several analysts recommending a "Hold" rating amid fluctuating opinions on its value.
• Recent trading saw QuantumScape's stock rise 14.5% to $16.78, however, it has a wide fluctuation in price over the past year, with a low of $3.40 and a high of $19.07.

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

Several other equities research analysts also recently issued reports on QS. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on QuantumScape and gave the stock a "hold" rating in a research note on Thursday. TD Cowen raised QuantumScape to a "hold" rating in a research note on Monday, July 7th. Finally, Robert W. Baird raised their price target on QuantumScape from $6.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Seven research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $6.47.

QuantumScape Trading Up 14.5%

Shares of NYSE:QS traded up $2.12 during midday trading on Friday, reaching $16.78. The company had a trading volume of 48,223,623 shares, compared to its average volume of 54,530,676. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. QuantumScape has a 1-year low of $3.40 and a 1-year high of $19.07. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of -20.72 and a beta of 4.85. The company has a fifty day simple moving average of $11.82 and a two-hundred day simple moving average of $8.12.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.18). The company had revenue of ($36.67) million during the quarter. During the same period last year, the business earned ($0.23) EPS. Research analysts predict that QuantumScape will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey B. Straubel sold 157,180 shares of the firm's stock in a transaction that occurred on 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 transaction, the director directly owned 348,146 shares of the company's stock, valued at approximately $3,202,943.20. This trade represents a 31.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael O. Mccarthy III sold 38,035 shares of the firm's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $9.13, for a total value of $347,259.55. Following the completion of the transaction, the insider directly owned 1,397,382 shares in the company, valued at $12,758,097.66. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 827,870 shares of company stock valued at $9,399,135 over the last 90 days. 5.48% of the stock is currently owned by insiders.

Institutional Trading of QuantumScape

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

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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