QuantumScape Co. (NYSE:QS) Given Average Recommendation of “Reduce” by Brokerages

QuantumScape Co. (NYSE:QS) has been given a consensus rating of “Reduce” by the eight brokerages that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $5.13.

QS has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their target price on shares of QuantumScape from $4.00 to $3.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. UBS Group cut QuantumScape from a “neutral” rating to a “sell” rating and cut their target price for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. Finally, Truist Financial decreased their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, February 14th.

Insiders Place Their Bets

In other news, insider Michael O. Mccarthy III sold 76,315 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the transaction, the insider now directly owns 1,010,523 shares in the company, valued at $5,285,035.29. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.22, for a total transaction of $67,379.76. Following the completion of the sale, the director now owns 228,287 shares of the company’s stock, valued at $1,191,658.14. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,147 shares of company stock valued at $935,758 in the last 90 days. 12.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

A number of large investors have recently added to or reduced their stakes in QS. Vanguard Group Inc. increased its holdings in shares of QuantumScape by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock valued at $168,367,000 after purchasing an additional 956,072 shares during the last quarter. State Street Corp grew its stake in QuantumScape by 1.5% in the 3rd quarter. State Street Corp now owns 5,918,496 shares of the company’s stock valued at $34,031,000 after buying an additional 87,563 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 acquiring an additional 28,073 shares during the period. Dimensional Fund Advisors LP lifted its position in QuantumScape by 55.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company’s stock worth $30,183,000 after acquiring an additional 2,066,844 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of QuantumScape during the fourth quarter worth approximately $17,762,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Up 0.3 %

Shares of QuantumScape stock opened at $3.80 on Tuesday. The company has a market capitalization of $2.08 billion, a P/E ratio of -4.04 and a beta of 4.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The business has a 50-day moving average of $4.37 and a two-hundred day moving average of $4.95. QuantumScape has a 1 year low of $3.40 and a 1 year high of $9.52.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, equities analysts predict 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.