QuantumScape Co. (NYSE:QS) Given Consensus Rating of “Hold” by Brokerages

Shares of QuantumScape Co. (NYSE:QS – Get Rating) have been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $13.86.

QS has been the subject of a number of analyst reports. Truist Financial initiated coverage on QuantumScape in a report on Wednesday, September 28th. They issued a “hold” rating and a $10.00 price target for the company. The Goldman Sachs Group cut QuantumScape from a “neutral” rating to a “sell” rating and reduced their target price for the company from $8.00 to $5.00 in a report on Wednesday, December 14th. Finally, Morgan Stanley cut QuantumScape from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $12.00 to $4.00 in a report on Wednesday, November 9th.

Insider Buying and Selling

In other QuantumScape news, insider Mohit Singh sold 8,500 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $7.63, for a total transaction of $64,855.00. Following the transaction, the insider now directly owns 302,157 shares in the company, valued at $2,305,457.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 57,843 shares of company stock worth $441,626. Company insiders own 13.73% of the company’s stock.

Institutional Trading of QuantumScape

Several hedge funds have recently modified their holdings of QS. KPCB XIV Associates LLC acquired a new stake in shares of QuantumScape in the second quarter valued at $43,556,000. Vanguard Group Inc. raised its stake in QuantumScape by 11.9% in the third quarter. Vanguard Group Inc. now owns 20,555,744 shares of the company’s stock valued at $172,874,000 after buying an additional 2,178,359 shares in the last quarter. Renaissance Technologies LLC raised its stake in QuantumScape by 125.3% in the second quarter. Renaissance Technologies LLC now owns 1,664,500 shares of the company’s stock valued at $14,298,000 after buying an additional 925,800 shares in the last quarter. Two Sigma Investments LP raised its stake in QuantumScape by 22.4% in the third quarter. Two Sigma Investments LP now owns 4,275,001 shares of the company’s stock valued at $35,953,000 after buying an additional 782,558 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in QuantumScape by 117.0% in the third quarter. Two Sigma Advisers LP now owns 722,700 shares of the company’s stock valued at $6,078,000 after buying an additional 389,700 shares in the last quarter. 26.09% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Stock Performance

Shares of QS stock opened at $7.73 on Monday. The stock has a market cap of $3.37 billion, a PE ratio of -8.99 and a beta of 5.28. The business has a 50-day simple moving average of $6.70 and a 200-day simple moving average of $8.81. The company has a quick ratio of 25.68, a current ratio of 25.68 and a debt-to-equity ratio of 0.03. QuantumScape has a 52-week low of $5.11 and a 52-week high of $22.21.

QuantumScape (NYSE:QS – Get Rating) last issued its quarterly earnings data on Wednesday, October 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). On average, equities analysts expect that QuantumScape will post -0.93 EPS for the current year.

About QuantumScape

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QuantumScape Corporation, a 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.