UBS Group Trims QuantumScape (NYSE:QS) Target Price to $5.00

QuantumScape (NYSE:QS) had its price target trimmed by UBS Group from $9.00 to $5.00 in a research note published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

QS has been the topic of a number of other reports. Truist Financial lowered their price objective on shares of QuantumScape from $8.00 to $6.00 and set a hold rating on the stock in a research note on Monday. Robert W. Baird increased their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, QuantumScape currently has an average rating of Hold and a consensus target price of $6.30.

QuantumScape Stock Up 1.8 %

NYSE:QS opened at $5.19 on Thursday. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03. QuantumScape has a fifty-two week low of $4.92 and a fifty-two week high of $13.86. The firm’s fifty day simple moving average is $5.96 and its 200-day simple moving average is $6.42.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period last year, the business earned ($0.25) EPS. Sell-side analysts predict that QuantumScape will post -0.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares in the company, valued at approximately $4,514,150.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Michael O. Mccarthy III sold 21,840 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now owns 731,629 shares in the company, valued at $4,514,150.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the completion of the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The disclosure for this sale can be found here. Insiders have sold 194,970 shares of company stock valued at $1,250,775 in the last ninety days. Insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of QuantumScape by 23.3% during the third quarter. Vanguard Group Inc. now owns 29,031,546 shares of the company’s stock worth $194,221,000 after buying an additional 5,483,319 shares in the last quarter. Norges Bank acquired a new position in QuantumScape in the fourth quarter worth $18,482,000. Baillie Gifford & Co. boosted its holdings in QuantumScape by 53.6% in the third quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company’s stock worth $17,268,000 after purchasing an additional 900,249 shares during the period. Trexquant Investment LP acquired a new position in QuantumScape in the fourth quarter worth $1,560,000. Finally, Duality Advisers LP raised its stake in shares of QuantumScape by 133.7% during the fourth quarter. Duality Advisers LP now owns 371,340 shares of the company’s stock valued at $2,581,000 after purchasing an additional 212,468 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.