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

QuantumScape Co. (NYSE:QS) has earned a consensus rating of “Reduce” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Three 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 twelve-month target price among brokerages that have issued a report on the stock in the last year is $6.62.

A number of equities research analysts recently commented on the stock. Wolfe Research assumed coverage on shares of QuantumScape in a research report on Thursday. They set an “underperform” rating for the company. Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a report on Monday, August 5th.

Insiders Place Their Bets

In other QuantumScape news, CTO Timothy Holme sold 44,306 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total value of $270,709.66. Following the completion of the transaction, the chief technology officer now owns 1,168,496 shares in the company, valued at $7,139,510.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Michael O. Mccarthy III sold 222,476 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the completion of the sale, the insider now owns 1,283,847 shares of the company’s stock, valued at $8,447,713.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Timothy Holme sold 44,306 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total transaction of $270,709.66. Following the sale, the chief technology officer now directly owns 1,168,496 shares of the company’s stock, valued at approximately $7,139,510.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,112,281 shares of company stock worth $6,547,435. Company insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in shares of QuantumScape by 26.4% during the fourth quarter. Victory Capital Management Inc. now owns 43,752 shares of the company’s stock worth $304,000 after purchasing an additional 9,135 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in QuantumScape during the 4th quarter valued at about $97,000. Vanguard Group Inc. grew its stake in QuantumScape by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock valued at $207,306,000 after acquiring an additional 796,723 shares in the last quarter. Swiss National Bank grew its stake in QuantumScape by 9.3% during the 1st quarter. Swiss National Bank now owns 678,800 shares of the company’s stock valued at $4,270,000 after acquiring an additional 58,000 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in QuantumScape by 40.2% during the 1st quarter. Principal Financial Group Inc. now owns 28,278 shares of the company’s stock valued at $178,000 after acquiring an additional 8,106 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Stock Performance

Shares of NYSE:QS opened at $5.37 on Monday. The firm has a 50 day moving average of $6.25 and a 200 day moving average of $5.89. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. The company 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 52 week low of $4.67 and a 52 week high of $10.03.

QuantumScape (NYSE:QS) last released 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 previous year, the company earned ($0.26) earnings per share. On average, sell-side analysts predict that QuantumScape will post -0.91 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.