QuantumScape Co. (NYSE:QS) Receives Average Rating of 'Reduce' from Brokerages

Shares of QuantumScape Co. (NYSE:QS) have recently been assessed by eight brokerages, which have collectively assigned an average recommendation of "Reduce" to the stock, according to Marketbeat.com. Among these analysts, one has issued a sell recommendation, while seven have advised holding onto the stock. The average target price set by these brokers for the next twelve months stands at $6.26.

Research Analyst Insights

Various research analysts have provided commentary on QuantumScape. Wolfe Research started coverage of the stock, issuing an "underperform" rating as of September 5th. Subsequently, Truist Financial maintained a "hold" rating but raised the price target from $6.00 to $7.00 in a report dated October 25th. Deutsche Bank also reiterated a "hold" rating with a price target of $6.00 on September 10th. On November 19th, HSBC upgraded QuantumScape from a "reduce" rating to a "hold" rating, setting a price goal of $5.30.

Insider Activity

In recent stock transactions, Director Jagdeep Singh sold 308,097 shares of QuantumScape on December 9th at an average price of $5.30, totaling approximately $1.63 million. After this sale, Singh retains ownership of 2,563,767 shares valued at around $13.59 million, reflecting a 10.73% decrease in his stake. Additionally, CFO Kevin Hettrich sold 29,667 shares on December 5th for about $151,302, which reduced his ownership by 2.81%. Over the past ninety days, corporate insiders have sold shares totaling approximately $5.77 million, while insiders currently own 12.03% of the company’s stock.

Institutional Investment Trends

Institutional investors have been making adjustments to their holdings in QuantumScape. For instance, 180 Wealth Advisors LLC increased its stake by 2.7% in the second quarter, acquiring an additional 2,059 shares. Signaturefd LLC raised its stake by 79.9% during the third quarter, obtaining an additional 2,148 shares. Moreover, CWM LLC increased its position by 56.0%, and Farther Finance Advisors LLC expanded its stake by 32.4%. Currently, hedge funds and institutional investors hold 29.87% of QuantumScape’s shares.

QuantumScape Stock Performance

On the market, QuantumScape shares opened at $5.01. The company boasts a market capitalization of $2.56 billion, a P/E ratio of -5.27, and a beta of 4.50. QuantumScape reported a 1-year low of $4.65 and a high of $10.03. The stock has a fifty-day moving average of $5.26 and a two-hundred-day moving average of $5.69.

Latest Earnings Report

QuantumScape announced its quarterly earnings on October 23rd, reporting an earnings per share (EPS) of -$0.23, which was below the consensus estimate of -$0.21. For comparison, the company reported the same EPS in the previous year. Analysts forecasting for QuantumScape expect the company to post an EPS of -$0.99 for the current fiscal year.

About QuantumScape

QuantumScape Corporation is a research and development stage company that specializes in creating and commercializing solid-state lithium-metal batteries for electric vehicles and other applications. Founded in 2010, the company is based in San Jose, California.

QuantumScape, Stocks, Investment