QuantumScape (NYSE:QS - Get Free Report) had its target price cut by research analysts at Truist Financial from $7.00 to $6.00 in a report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's target price suggests a potential upside of 8.79% from the company's previous close.
A number of other research firms also recently weighed in on QS. HSBC upgraded QuantumScape from a "reduce" rating to a "hold" rating and set a $5.30 price target on the stock in a research note on Tuesday, November 19th. Hsbc Global Res upgraded 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, QuantumScape has an average rating of "Hold" and a consensus price target of $6.06.
Read Our Latest Stock Report on QS
QuantumScape Stock Performance
Shares of QS stock traded up $0.29 during midday trading on Friday, hitting $5.52. The company had a trading volume of 20,383,194 shares, compared to its average volume of 16,101,214. The company's 50 day simple moving average is $5.28 and its 200 day simple moving average is $5.41. QuantumScape has a 52-week low of $4.65 and a 52-week high of $9.52. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -5.81 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.
QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Research analysts anticipate that QuantumScape will post -0.99 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other QuantumScape news, insider Mohit Singh sold 97,305 shares of the business's stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the sale, the insider now directly owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin Hettrich sold 36,949 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $5.06, for a total value of $186,961.94. Following the sale, the chief financial officer now owns 1,024,325 shares in the company, valued at approximately $5,183,084.50. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 567,878 shares of company stock worth $3,062,871. 12.03% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On QuantumScape
Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company's stock valued at $28,000 after purchasing an additional 2,148 shares during the last quarter. Ieq Capital LLC increased its stake in QuantumScape by 2.6% in the fourth quarter. Ieq Capital LLC now owns 87,370 shares of the company's stock valued at $453,000 after purchasing an additional 2,200 shares during the last quarter. Handelsbanken Fonder AB increased its stake in QuantumScape by 2.0% in the fourth quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company's stock valued at $595,000 after purchasing an additional 2,300 shares during the last quarter. Xponance Inc. increased its stake in 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 last quarter. Finally, Arizona State Retirement System increased its stake in QuantumScape by 2.3% in the fourth quarter. Arizona State Retirement System now owns 111,364 shares of the company's stock valued at $578,000 after purchasing an additional 2,483 shares during the last quarter. 29.87% of the stock is owned by institutional investors and hedge funds.
QuantumScape Company Profile
(
Get Free Report)
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.
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