Evercore ISI Cuts QuantumScape (NYSE:QS) Price Target to $8.00

QuantumScape (NYSE:QS - Get Free Report) had its target price lowered by Evercore ISI from $10.00 to $8.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's price target points to a potential upside of 54.59% from the stock's current price.

A number of other equities analysts have also issued reports on the stock. HSBC upgraded shares of QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 target price on the stock in a research report on Tuesday, November 19th. Truist Financial reduced their price objective on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Finally, Hsbc Global Res raised shares of QuantumScape to a "hold" rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.06.

QuantumScape Price Performance

Shares of QS stock traded down $0.16 during trading hours on Tuesday, reaching $5.18. 15,076,086 shares of the company were exchanged, compared to its average volume of 13,176,601. QuantumScape has a fifty-two week low of $4.65 and a fifty-two week high of $9.52. The stock's fifty day moving average is $5.29 and its two-hundred day moving average is $5.40. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -5.51 and a beta of 4.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07.

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QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.01). Sell-side analysts forecast that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, insider Michael O. Mccarthy III sold 76,315 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $399,127.45. Following the completion of the transaction, the insider now directly owns 1,010,523 shares of the company's stock, valued at $5,285,035.29. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the company's stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the transaction, the insider now directly owns 1,092,020 shares of the company's stock, valued at $6,814,204.80. This represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 615,216 shares of company stock valued at $3,327,157. Company insiders own 12.03% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new position in shares of QuantumScape during the fourth quarter worth about $26,000. Signaturefd LLC raised its holdings in QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company's stock worth $28,000 after acquiring an additional 2,148 shares in the last quarter. International Assets Investment Management LLC raised its holdings in QuantumScape by 475.1% during the third 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. Raiffeisen Bank International AG bought a new stake in QuantumScape during the fourth quarter worth about $29,000. Finally, Blue Trust Inc. raised its holdings in QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company's stock worth $39,000 after acquiring an additional 4,556 shares in the last quarter. 29.87% of the stock is 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.