QuantumScape Co. (NYSE:QS) Receives $6.14 Average PT from Brokerages

QuantumScape Co. (NYSE:QS) has received a consensus rating of “Reduce” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $6.26.

QS has been the subject of several recent analyst reports. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday. Truist Financial restated a “hold” rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 58,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total transaction of $335,240.00. Following the completion of the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $6,202,067.16. This represents a 5.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael O. Mccarthy III sold 106,084 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $5.90, for a total value of $625,895.60. Following the sale, the insider now owns 1,181,884 shares of the company’s stock, valued at $6,973,115.60. This represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 702,057 shares of company stock worth $3,982,909 in the last ninety days. 12.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Several institutional investors have recently bought and sold shares of QS. 180 Wealth Advisors LLC lifted its holdings in QuantumScape by 2.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock worth $392,000 after buying an additional 2,059 shares during the period. Signaturefd LLC lifted its holdings in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after buying an additional 2,148 shares during the period. CWM LLC lifted its holdings in QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the period. Farther Finance Advisors LLC lifted its holdings in QuantumScape by 32.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after buying an additional 3,310 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in QuantumScape by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after buying an additional 3,527 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Price Performance

QuantumScape stock opened at $5.16 on Friday. QuantumScape has a 52 week low of $4.65 and a 52 week high of $10.03. The business has a 50-day simple moving average of $5.41 and a 200 day simple moving average of $5.74. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -5.43 and a beta of 4.60.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period last year, the firm posted ($0.23) earnings per share. On average, research analysts forecast that QuantumScape will post -0.97 earnings per share for the current fiscal 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.