QuantumScape Corporation (NYSE:QS) Given Average Recommendation of “Reduce” by Analysts

Shares of QuantumScape Corporation (NYSE:QSGet Free Report) have been given an average recommendation of “Reduce” by the nine analysts that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $5.8833.

A number of brokerages have recently issued reports on QS. Robert W. Baird lifted their target price on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Finally, TD Cowen raised QuantumScape to a “hold” rating in a report on Monday, July 7th.

Read Our Latest Research Report on QuantumScape

QuantumScape Stock Up 15.8%

Shares of NYSE QS opened at $17.02 on Tuesday. QuantumScape has a 1 year low of $3.40 and a 1 year high of $17.79. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of -19.79 and a beta of 4.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40. The stock’s 50-day simple moving average is $10.59 and its 200-day simple moving average is $7.43.

QuantumScape (NYSE:QSGet Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). The business had revenue of $36.67 million for the quarter. During the same quarter last year, the firm posted ($0.25) earnings per share. As a group, equities analysts anticipate that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In related news, CTO Timothy Holme sold 166,442 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $15.52, for a total value of $2,583,179.84. Following the completion of the sale, the chief technology officer directly owned 1,364,273 shares of the company’s stock, valued at $21,173,516.96. The trade was a 10.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Hettrich sold 9,800 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $13.94, for a total value of $136,612.00. Following the completion of the sale, the chief financial officer directly owned 1,591,467 shares of the company’s stock, valued at approximately $22,185,049.98. This represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,327,870 shares of company stock valued at $26,819,135 in the last three months. Corporate insiders own 5.48% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of QuantumScape by 9.0% during the first quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company’s stock valued at $147,064,000 after purchasing an additional 2,911,362 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of QuantumScape by 12.5% during the second quarter. Geode Capital Management LLC now owns 6,914,680 shares of the company’s stock valued at $46,475,000 after purchasing an additional 768,070 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company’s stock valued at $19,799,000 after purchasing an additional 3,904,168 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of QuantumScape by 148.0% during the second quarter. Bank of America Corp DE now owns 2,803,989 shares of the company’s stock valued at $18,843,000 after purchasing an additional 1,673,472 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of QuantumScape by 2,036.7% during the second quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company’s stock valued at $16,483,000 after purchasing an additional 2,338,038 shares during the last quarter. 29.87% of the stock is owned by institutional investors.

QuantumScape Company Profile

(Get Free Report)

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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Analyst Recommendations for QuantumScape (NYSE:QS)

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