Brokerages Set QuantumScape Co. (NYSE:QS) Target Price at $6.26

QuantumScape Co. (NYSE:QS) has been assigned an average recommendation of “Reduce” from the seven analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $6.26.

A number of equities analysts recently commented on the stock. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research note on Tuesday, November 19th. 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 Friday, October 25th. Finally, Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th.

Insider Activity at QuantumScape

In related news, insider Michael O. Mccarthy III sold 27,305 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.07, for a total value of $138,436.35. Following the completion of the transaction, the insider now owns 1,129,167 shares in the company, valued at $5,724,876.69. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the sale, the director now owns 2,590,583 shares in the company, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 536,460 shares of company stock valued at $2,903,619 in the last ninety days. Corporate insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of large investors have recently bought and sold shares of the company. Signaturefd LLC lifted its stake in QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after acquiring an additional 2,148 shares during the period. International Assets Investment Management LLC boosted its holdings in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after purchasing an additional 4,228 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in QuantumScape during the 2nd quarter worth about $52,000. Atom Investors LP purchased a new position in shares of QuantumScape during the 3rd quarter valued at about $60,000. Finally, CIBC Asset Management Inc acquired a new position in shares of QuantumScape in the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Price Performance

QS opened at $5.61 on Friday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -5.91 and a beta of 4.46. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape has a 12-month low of $4.65 and a 12-month high of $9.52. The business’s fifty day simple moving average is $5.23 and its 200-day simple moving average is $5.69.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the company posted ($0.23) EPS. On average, equities research analysts anticipate that QuantumScape will post -0.99 earnings per share for the current fiscal year.

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.