Brokerages Set QuantumScape Co. (NYSE:QS) PT at $6.62

Shares of QuantumScape Co. (NYSE:QS) have received an average recommendation of “Reduce” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $6.62.

QS has been the subject of several analyst reports. UBS Group lowered their price target on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Truist Financial reiterated a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Monday, August 5th.

Insider Activity at QuantumScape

In other news, CFO Kevin Hettrich sold 45,848 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $5.61, for a total value of $257,207.28. Following the completion of the transaction, the chief financial officer now owns 1,145,821 shares in the company, valued at $6,428,055.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Kevin Hettrich sold 45,848 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $5.61, for a total value of $257,207.28. Following the completion of the transaction, the chief financial officer now owns 1,145,821 shares in the company, valued at $6,428,055.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jagdeep Singh sold 192,270 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.50, for a total transaction of $1,057,485.00. Following the completion of the transaction, the director now owns 2,809,253 shares of the company’s stock, valued at approximately $15,450,891.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,262,308 shares of company stock worth $7,391,080. 10.18% of the stock is currently owned by company insiders.

Institutional Trading of QuantumScape

Institutional investors have recently made changes to their positions in the business. Spire Wealth Management lifted its position in shares of QuantumScape by 39.0% in the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. CWM LLC raised its position in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after acquiring an additional 2,556 shares in the last quarter. Mather Group LLC. bought a new stake in QuantumScape during the second quarter worth $36,000. International Assets Investment Management LLC raised its position in QuantumScape by 595.1% during the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after acquiring an additional 5,296 shares in the last quarter. Finally, Alaska Wealth Advisors bought a new stake in QuantumScape during the second quarter worth $49,000. Institutional investors own 29.87% of the company’s stock.

QuantumScape Trading Down 1.5 %

Shares of NYSE QS opened at $5.68 on Thursday. QuantumScape has a 1-year low of $4.67 and a 1-year high of $10.03. The company has a market cap of $2.83 billion, a PE ratio of -5.91 and a beta of 4.62. The company has a current ratio of 8.66, a quick ratio of 10.38 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $6.05 and a two-hundred day moving average of $6.06.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period in the prior year, the business posted ($0.26) EPS. As a group, equities analysts expect that QuantumScape will post -0.9 earnings per share for the current fiscal year.

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.