Brokerages Set QuantumScape Co. (NYSE:QS) Target Price at $6.26

Shares of QuantumScape Co. (NYSE:QS - Get Free Report) have been assigned a consensus rating of "Reduce" from the eight analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $6.26.

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. HSBC upgraded QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price objective on the stock in a research note on Tuesday, November 19th. Truist Financial restated a "hold" rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Wolfe Research assumed coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an "underperform" rating for the company. Finally, Hsbc Global Res upgraded QuantumScape to a "hold" rating in a research note on Tuesday, November 19th.

QuantumScape Trading Down 0.8 %

Shares of NYSE:QS traded down $0.04 during midday trading on Wednesday, reaching $4.97. 12,139,280 shares of the company's stock were exchanged, compared to its average volume of 9,136,850. The firm's 50 day simple moving average is $5.25 and its two-hundred day simple moving average is $5.69. QuantumScape has a fifty-two week low of $4.65 and a fifty-two week high of $10.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -5.27 and a beta of 4.50.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the firm earned ($0.23) EPS. As a group, sell-side analysts forecast that QuantumScape will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, insider Michael O. Mccarthy III sold 106,084 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $5.90, for a total transaction of $625,895.60. Following the completion of the transaction, the insider now owns 1,181,884 shares in the company, valued at approximately $6,973,115.60. The trade was a 8.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the director now directly owns 2,563,767 shares in the company, valued at $13,587,965.10. This trade represents a 10.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,039,821 shares of company stock valued at $5,767,125. Company insiders own 12.03% of the company's stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently bought and sold shares of QS. State Street Corp lifted its position in shares of QuantumScape by 1.5% in the 3rd quarter. State Street Corp now owns 5,918,496 shares of the company's stock valued at $34,031,000 after acquiring an additional 87,563 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company's stock worth $33,671,000 after buying an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company's stock valued at $12,806,000 after buying an additional 93,826 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in QuantumScape by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,180,002 shares of the company's stock worth $6,785,000 after acquiring an additional 94,103 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in QuantumScape by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company's stock worth $4,579,000 after acquiring an additional 11,897 shares during the last quarter. 29.87% of the stock is currently owned by 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.