QuantumScape (NYSE:QS) Now Covered by Wolfe Research

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

Separately, Truist Financial restated a hold rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Monday, August 5th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $6.62.

QuantumScape Stock Performance

QS stock 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. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -5.59 and a beta of 4.59. QuantumScape has a 1 year low of $4.67 and a 1 year high of $10.03. The stock’s fifty day moving average is $6.25 and its two-hundred day moving average is $5.90.

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

Insider Buying and Selling

In related news, insider Mohit Singh sold 173,224 shares of QuantumScape stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $7.04, for a total transaction of $1,219,496.96. Following the transaction, the insider now directly owns 1,196,905 shares of the company’s stock, valued at $8,426,211.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Michael O. Mccarthy III sold 50,575 shares of QuantumScape stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.99, for a total value of $302,944.25. Following the transaction, the insider now owns 1,184,745 shares of the company’s stock, valued at approximately $7,096,622.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Singh sold 173,224 shares of QuantumScape stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $7.04, for a total value of $1,219,496.96. Following the completion of the transaction, the insider now directly owns 1,196,905 shares in the company, valued at approximately $8,426,211.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,112,281 shares of company stock valued at $6,547,435 over the last three months. Company insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors have recently bought and sold shares of QS. Mirae Asset Global Investments Co. Ltd. increased its stake in QuantumScape by 240.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after purchasing an additional 3,004,964 shares in the last quarter. Norges Bank purchased a new position in QuantumScape in the 4th quarter worth about $18,482,000. 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 purchasing an additional 796,723 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in QuantumScape during the 2nd quarter valued at about $1,950,000. Finally, American Century Companies Inc. grew its stake in QuantumScape by 880.6% during the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after acquiring an additional 316,361 shares in the last quarter. Hedge funds and other institutional investors 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.