Brokerages Set QuantumScape Co. (NYSE:QS) Target Price at $6.06

QuantumScape Co. (NYSE:QS - Get Free Report) has been given an average rating of "Reduce" by the seven brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.06.

QS has been the subject of a number of recent analyst reports. Truist Financial decreased their target price on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Evercore ISI reiterated a "hold" rating on shares of QuantumScape in a research note on Tuesday, February 25th.

QuantumScape Stock Performance

Shares of QS traded up $0.04 during mid-day trading on Friday, hitting $4.70. The stock had a trading volume of 6,822,196 shares, compared to its average volume of 10,413,759. QuantumScape has a fifty-two week low of $4.05 and a fifty-two week high of $9.52. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.57 billion, a PE ratio of -5.00 and a beta of 4.45. The company's fifty day simple moving average is $4.87 and its two-hundred day simple moving average is $5.21.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). On average, equities analysts expect that QuantumScape will post -0.82 earnings per share for the current year.

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Insider Transactions at QuantumScape

In other news, insider Michael O. Mccarthy III sold 76,315 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $399,127.45. Following the transaction, the insider now owns 1,010,523 shares of the company's stock, valued at approximately $5,285,035.29. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the firm's stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the sale, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. The trade was a 8.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 277,452 shares of company stock valued at $1,542,942 in the last three months. Corporate insiders own 12.03% of the company's stock.

Hedge Funds Weigh In On QuantumScape

Hedge funds have recently made changes to their positions in the business. Heck Capital Advisors LLC bought a new position in shares of QuantumScape in the fourth quarter valued at about $26,000. Raiffeisen Bank International AG bought a new position in QuantumScape in the 4th quarter valued at approximately $29,000. Blue Trust Inc. increased its holdings in QuantumScape by 208.8% in the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company's stock worth $39,000 after purchasing an additional 4,556 shares in the last quarter. Atlas Legacy Advisors LLC acquired a new stake in QuantumScape in the fourth quarter valued at $53,000. Finally, Empowered Funds LLC bought a new position in shares of QuantumScape during the fourth quarter worth about $53,000. 29.87% of the stock is owned by institutional investors.

About QuantumScape

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.