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

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

Other equities research analysts also recently issued reports about the stock. Truist Financial dropped their price objective on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. Hsbc Global Res raised shares of QuantumScape to a "hold" rating in a research report on Tuesday, November 19th. Finally, HSBC raised 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $6.06.

QuantumScape Stock Down 2.9 %

Shares of NYSE:QS traded down $0.16 during trading hours on Tuesday, reaching $5.18. The stock had a trading volume of 15,076,086 shares, compared to its average volume of 15,879,275. QuantumScape has a 1 year low of $4.65 and a 1 year high of $9.52. The firm's 50 day moving average is $5.29 and its 200-day moving average is $5.40. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -5.51 and a beta of 4.45.

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

Insiders Place Their Bets

In other news, Director Jagdeep Singh sold 308,097 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.30, for a total value of $1,632,914.10. Following the completion of the sale, the director now owns 2,563,767 shares in the company, valued at approximately $13,587,965.10. This trade represents a 10.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 29,667 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $5.10, for a total transaction of $151,301.70. Following the completion of the sale, the chief financial officer now owns 1,024,325 shares of the company's stock, valued at $5,224,057.50. This trade represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 615,216 shares of company stock valued at $3,327,157. Insiders own 12.03% of the company's stock.

Institutional Trading of QuantumScape

Several hedge funds have recently made changes to their positions in the company. Signaturefd LLC lifted its stake in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company's stock worth $28,000 after acquiring an additional 2,148 shares during the period. Ieq Capital LLC lifted its stake in shares of QuantumScape by 2.6% in the 4th quarter. Ieq Capital LLC now owns 87,370 shares of the company's stock worth $453,000 after acquiring an additional 2,200 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of QuantumScape by 2.0% in the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company's stock worth $595,000 after acquiring an additional 2,300 shares during the period. Xponance Inc. lifted its stake in shares of QuantumScape by 17.8% in the fourth quarter. Xponance Inc. now owns 15,862 shares of the company's stock valued at $82,000 after purchasing an additional 2,400 shares during the period. Finally, Arizona State Retirement System boosted its holdings in QuantumScape by 2.3% during the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company's stock worth $578,000 after buying an additional 2,483 shares in the last quarter. Institutional investors and hedge funds 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.