QuantumScape Co. (NYSE:QS) Receives $5.94 Average Price Target from Brokerages

Shares of QuantumScape Co. (NYSE:QS) have received an average rating of “Reduce” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $5.94.

Several equities analysts recently commented on the stock. Wolfe Research initiated coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Truist Financial lowered their price target on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th.

Insiders Place Their Bets

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total transaction of $76,931.68. Following the completion of the transaction, the director now owns 254,103 shares of the company’s stock, valued at approximately $1,514,453.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $5,890,890.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the completion of the transaction, the director now owns 254,103 shares in the company, valued at approximately $1,514,453.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,126,067 shares of company stock worth $6,659,475 over the last ninety days. Corporate insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new stake in shares of QuantumScape during the second quarter valued at about $1,950,000. Sanctuary Advisors LLC purchased a new stake in shares of QuantumScape in the second quarter worth $680,000. Vanguard Group Inc. increased its stake in QuantumScape by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock worth $207,306,000 after acquiring an additional 796,723 shares during the last quarter. Swiss National Bank raised its holdings in shares of QuantumScape by 9.3% in the 1st quarter. Swiss National Bank now owns 678,800 shares of the company’s stock valued at $4,270,000 after acquiring an additional 58,000 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of QuantumScape during the 2nd quarter valued at about $644,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Price Performance

NYSE QS opened at $6.50 on Tuesday. QuantumScape has a 1 year low of $4.67 and a 1 year high of $10.03. The company has a fifty day simple moving average of $5.67 and a 200 day simple moving average of $5.80. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.25 billion, a P/E ratio of -6.77 and a beta of 4.58.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the business earned ($0.23) earnings per share. On average, sell-side analysts predict that QuantumScape will post -0.9 EPS for the current year.

QuantumScape Company Profile

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.