The Goldman Sachs Group Cuts QuantumScape (NYSE:QS) Price Target to $3.00

QuantumScape (NYSE:QS) had its price objective dropped by investment analysts at The Goldman Sachs Group from $4.00 to $3.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 20.32% from the company’s previous close.

Several other equities research analysts also recently issued reports on QS. Truist Financial cut their price objective on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 14th. UBS Group downgraded QuantumScape from a “neutral” rating to a “sell” rating and dropped their target price for the company from $5.00 to $2.50 in a research report on Thursday. Finally, Evercore ISI reissued a “hold” rating on shares of QuantumScape in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.13.

QuantumScape Price Performance

Shares of QS opened at $3.77 on Thursday. The firm has a 50-day simple moving average of $4.51 and a two-hundred day simple moving average of $5.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. QuantumScape has a 1-year low of $3.40 and a 1-year high of $9.52. The stock has a market cap of $2.06 billion, a PE ratio of -4.01 and a beta of 4.37.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). As a group, analysts forecast that QuantumScape will post -0.82 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kevin Hettrich sold 36,949 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $5.06, for a total value of $186,961.94. Following the sale, the chief financial officer now directly owns 1,024,325 shares in the company, valued at approximately $5,183,084.50. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.22, for a total transaction of $67,379.76. Following the transaction, the director now owns 228,287 shares of the company’s stock, valued at approximately $1,191,658.14. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 180,147 shares of company stock worth $935,758 in the last quarter. 12.03% of the stock is owned by company insiders.

Institutional Trading of QuantumScape

A number of hedge funds and other institutional investors have recently bought and sold shares of QS. Heck Capital Advisors LLC purchased a new position in shares of QuantumScape in the 4th quarter valued at about $26,000. Raiffeisen Bank International AG acquired a new position in QuantumScape in the fourth quarter valued at approximately $29,000. Blue Trust Inc. increased its stake in QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock valued at $39,000 after purchasing an additional 4,556 shares during the last quarter. Empowered Funds LLC acquired a new stake in QuantumScape during the fourth quarter worth approximately $53,000. Finally, Atlas Legacy Advisors LLC acquired a new stake in QuantumScape during the fourth quarter worth approximately $53,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.