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

QuantumScape Co. (NYSE:QS) has received an average rating of “Reduce” from the seven brokerages that are covering the firm, MarketBeat reports. One research analyst has 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 a report on the stock in the last year is $6.06.

QS has been the subject of several research analyst reports. Truist Financial reduced their price objective on 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 reissued a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th.

QuantumScape Stock Down 1.0 %

QS stock opened at $4.53 on Friday. 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 firm has a market capitalization of $2.47 billion, a P/E ratio of -4.81 and a beta of 4.45. QuantumScape has a 52-week low of $4.05 and a 52-week high of $9.52. The company’s 50 day simple moving average is $4.83 and its 200-day simple moving average is $5.20.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). As a group, equities research analysts anticipate that QuantumScape will post -0.82 EPS for the current year.

Insider Buying and Selling at QuantumScape

In related news, insider Michael O. Mccarthy III sold 76,315 shares of QuantumScape stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Hettrich sold 36,949 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $5.06, for a total transaction of $186,961.94. Following the completion of the sale, the chief financial officer now owns 1,024,325 shares of the company’s stock, valued at $5,183,084.50. This represents a 3.48 % 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 worth $935,758 over the last 90 days. 12.03% of the stock is currently owned by corporate insiders.

Institutional Trading of QuantumScape

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Prospera Financial Services Inc raised its position in shares of QuantumScape by 34.4% in the third quarter. Prospera Financial Services Inc now owns 129,143 shares of the company’s stock valued at $743,000 after purchasing an additional 33,065 shares during the period. Strategy Asset Managers LLC bought a new position in QuantumScape in the 3rd quarter worth $108,000. Moors & Cabot Inc. acquired a new position in QuantumScape during the 3rd quarter worth $80,000. Charles Schwab Investment Management Inc. boosted its holdings in QuantumScape by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock valued at $12,806,000 after acquiring an additional 93,826 shares during the period. Finally, Nwam LLC acquired a new stake in shares of QuantumScape in the third quarter valued at about $64,000. 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.