QuantumScape (NYSE:QS) Given New $2.50 Price Target at The Goldman Sachs Group

QuantumScape (NYSE:QS) had its price objective lowered by equities research analysts at The Goldman Sachs Group from $3.00 to $2.50 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price suggests a potential downside of 36.79% from the stock’s previous close.

A number of other research analysts have also weighed in on QS. UBS Group lowered QuantumScape from a “neutral” rating to a “sell” rating and cut their price objective for the company from $5.00 to $2.50 in a report on Thursday, April 10th. Robert W. Baird dropped their price target on QuantumScape from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial dropped their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Finally, Evercore ISI reaffirmed a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, QuantumScape currently has a consensus rating of “Hold” and an average target price of $5.19.

QuantumScape Price Performance

QS traded up $0.02 on Monday, hitting $3.96. 7,433,406 shares of the company’s stock traded hands, compared to its average volume of 10,709,860. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -4.21 and a beta of 4.37. The company’s 50 day simple moving average is $4.26 and its 200-day simple moving average is $4.90. 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 one year low of $3.40 and a one year high of $9.52.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). During the same period in the previous year, the company posted ($0.24) EPS. As a group, research analysts anticipate that QuantumScape will post -0.82 EPS for the current year.

Insider Activity at QuantumScape

In related news, insider Michael O. Mccarthy III sold 76,315 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $399,127.45. Following the sale, the insider now directly owns 1,010,523 shares of the company’s stock, valued at approximately $5,285,035.29. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 53,975 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $282,289.25. Following the transaction, the chief financial officer now owns 930,800 shares in the company, valued at approximately $4,868,084. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,198 shares of company stock worth $748,796. 12.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its holdings in QuantumScape by 326.5% during the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after acquiring an additional 79,871 shares during the last quarter. Virtu Financial LLC purchased a new position in QuantumScape during the third quarter worth about $235,000. 180 Wealth Advisors LLC lifted its holdings in shares of QuantumScape by 13.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 112,168 shares of the company’s stock worth $582,000 after acquiring an additional 13,177 shares during the last quarter. Guardian Investment Management boosted its holdings in shares of QuantumScape by 158.6% in the 4th quarter. Guardian Investment Management now owns 12,490 shares of the company’s stock worth $65,000 after purchasing an additional 7,660 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of QuantumScape by 127.0% in the 4th quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock worth $1,062,000 after acquiring an additional 114,504 shares during the last quarter. 29.87% of the stock is 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.