Wolfe Research Begins Coverage on QuantumScape (NYSE:QS)

Wolfe Research started coverage on shares of QuantumScape (NYSE:QS) in a report issued on Thursday, StockNewsAPI reports. The firm issued an underperform rating on the stock.

Separately, Truist Financial reaffirmed a hold rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $6.62.

QuantumScape Trading Down 1.1 %

NYSE QS opened at $5.37 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66. QuantumScape has a one year low of $4.67 and a one year high of $10.03. The company’s 50 day moving average price is $6.25 and its 200 day moving average price is $5.90. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -5.59 and a beta of 4.59.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter in the prior year, the business earned ($0.26) EPS. On average, sell-side analysts predict that QuantumScape will post -0.91 EPS for the current year.

Insider Transactions at QuantumScape

In other news, CTO Timothy Holme sold 44,306 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total transaction of $270,709.66. Following the completion of the sale, the chief technology officer now owns 1,168,496 shares of the company’s stock, valued at $7,139,510.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Timothy Holme sold 44,306 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total transaction of $270,709.66. Following the transaction, the chief technology officer now directly owns 1,168,496 shares in the company, valued at $7,139,510.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael O. Mccarthy III sold 222,476 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total value of $1,463,892.08. Following the transaction, the insider now owns 1,283,847 shares in the company, valued at $8,447,713.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,112,281 shares of company stock valued at $6,547,435. 10.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in QuantumScape by 26.4% during the fourth quarter. Victory Capital Management Inc. now owns 43,752 shares of the company’s stock worth $304,000 after purchasing an additional 9,135 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in QuantumScape in the fourth quarter valued at $97,000. Vanguard Group Inc. lifted its stake in QuantumScape by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock valued at $207,306,000 after buying an additional 796,723 shares during the last quarter. Swiss National Bank lifted its stake in QuantumScape by 9.3% in the first quarter. Swiss National Bank now owns 678,800 shares of the company’s stock valued at $4,270,000 after buying an additional 58,000 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in QuantumScape by 40.2% in the first quarter. Principal Financial Group Inc. now owns 28,278 shares of the company’s stock valued at $178,000 after buying an additional 8,106 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors.

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.