QuantumScape Co. (NYSE:QS) Receives $6.26 Average Price Target from Brokerages

Shares of QuantumScape Co. (NYSE:QS) have earned a consensus rating of “Reduce” from the seven research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.26.

A number of brokerages have recently issued reports on QS. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. 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 Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a research report on Tuesday, November 19th.

QuantumScape Stock Down 4.4 %

QS stock opened at $6.29 on Friday. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $3.22 billion, a PE ratio of -6.62 and a beta of 4.46. QuantumScape has a twelve month low of $4.65 and a twelve month high of $9.66. The stock has a 50-day simple moving average of $5.20 and a two-hundred day simple moving average of $5.68.

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

Insider Buying and Selling

In other news, insider Mohit Singh sold 97,305 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael O. Mccarthy III sold 27,305 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $5.07, for a total value of $138,436.35. Following the sale, the insider now directly owns 1,129,167 shares of the company’s stock, valued at approximately $5,724,876.69. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 536,460 shares of company stock worth $2,903,619 in the last quarter. 12.03% of the stock is owned by insiders.

Institutional Trading of QuantumScape

A number of institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its holdings in shares of QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after acquiring an additional 2,148 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of QuantumScape by 32.4% during the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock valued at $78,000 after acquiring an additional 3,310 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in QuantumScape by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after purchasing an additional 3,527 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after acquiring an additional 4,228 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in QuantumScape by 4.6% during the second quarter. Arizona State Retirement System now owns 98,800 shares of the company’s stock worth $486,000 after acquiring an additional 4,330 shares in the last quarter. Hedge funds and other institutional investors 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.