QuantumScape (NYSE:QS) Price Target Lowered to $6.00 at Truist Financial

QuantumScape (NYSE:QS - Get Free Report) had its price target dropped by stock analysts at Truist Financial from $7.00 to $6.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's target price would suggest a potential upside of 8.89% from the company's current price.

Several other equities research analysts have also commented on QS. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an "underperform" rating for the company. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat.com, QuantumScape has a consensus rating of "Hold" and an average price target of $5.94.

QuantumScape Stock Up 0.4 %

Shares of NYSE:QS traded up $0.02 during trading hours on Wednesday, hitting $5.51. The company's stock had a trading volume of 3,877,589 shares, compared to its average volume of 8,310,839. QuantumScape has a 52 week low of $4.67 and a 52 week high of $10.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -5.74 and a beta of 4.58. The firm's fifty day moving average price is $5.71 and its 200 day moving average price is $5.83.

QuantumScape (NYSE:QS - Get Free Report) last posted 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 quarter last year, the company posted ($0.26) EPS. As a group, research analysts expect that QuantumScape will post -0.9 EPS for the current year.

Insider Buying and Selling

In other QuantumScape news, insider Michael O. Mccarthy III sold 222,476 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 1,283,847 shares of the company's stock, valued at approximately $8,447,713.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QuantumScape news, insider Michael O. Mccarthy III sold 222,476 shares of the business's stock in a transaction that occurred on 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 sale, the insider now owns 1,283,847 shares of the company's stock, valued at approximately $8,447,713.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jagdeep Singh sold 192,270 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $5.50, for a total transaction of $1,057,485.00. Following the sale, the director now directly owns 2,809,253 shares in the company, valued at approximately $15,450,891.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,126,067 shares of company stock worth $6,659,475 in the last 90 days. 10.18% of the stock is owned by corporate insiders.

Institutional Trading of QuantumScape

Several large investors have recently made changes to their positions in QS. Vanguard Group Inc. boosted its holdings in shares of QuantumScape by 2.7% in 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 during the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of QuantumScape in the 4th quarter valued at $97,000. Principal Financial Group Inc. boosted its holdings in shares of QuantumScape by 40.2% in 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 during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of QuantumScape by 1.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 358,597 shares of the company's stock valued at $2,256,000 after purchasing an additional 6,006 shares during the period. Finally, SpiderRock Advisors LLC acquired a new position in shares of QuantumScape in the 1st quarter valued at $66,000. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.