QuantumScape (NYSE:QS) Cut to “Sell” at UBS Group

UBS Group lowered shares of QuantumScape (NYSE:QS) from a neutral rating to a sell rating in a report released on Thursday, Marketbeat.com reports. UBS Group currently has $2.50 price target on the stock, down from their prior price target of $5.00.

Several other equities analysts have also recently commented on QS. Truist Financial reduced their price objective 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. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, QuantumScape currently has an average rating of “Hold” and a consensus target price of $5.13.

QuantumScape Trading Down 0.1 %

NYSE:QS opened at $3.77 on Thursday. QuantumScape has a 1 year low of $3.40 and a 1 year high of $9.52. The stock’s fifty day moving average price is $4.51 and its two-hundred day moving average price is $5.03. 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 company has a market cap of $2.06 billion, a P/E ratio of -4.01 and a beta of 4.37.

QuantumScape (NYSE:QS) last issued its quarterly earnings data 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, analysts expect that QuantumScape will post -0.82 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On QuantumScape

A number of large investors have recently added to or reduced their stakes in QS. Norges Bank bought a new position in shares of QuantumScape during the fourth quarter valued at about $17,762,000. Dimensional Fund Advisors LP grew its position in QuantumScape by 55.2% during the 4th 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. Vanguard Group Inc. increased its stake in QuantumScape by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company’s stock worth $168,367,000 after purchasing an additional 956,072 shares during the period. Centiva Capital LP lifted its position in QuantumScape by 479.0% in the fourth quarter. Centiva Capital LP now owns 558,715 shares of the company’s stock valued at $2,900,000 after purchasing an additional 462,218 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of QuantumScape by 1,091.5% during the fourth quarter. American Century Companies Inc. now owns 432,455 shares of the company’s stock valued at $2,244,000 after purchasing an additional 396,160 shares during the period. Hedge funds and other institutional investors 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.