QuantumScape (NYSE:QS) Upgraded by HSBC to Hold Rating

QuantumScape (NYSE:QS - Get Free Report) was upgraded by equities researchers at HSBC from a "reduce" rating to a "hold" rating in a research note issued on Tuesday, Marketbeat reports. The firm presently has a $5.30 price target on the stock. HSBC's price objective points to a potential upside of 7.94% from the company's current price.

Several other equities research analysts have also recently weighed in on the company. Truist Financial restated a "hold" rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Wolfe Research began coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an "underperform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, QuantumScape presently has a consensus rating of "Hold" and a consensus target price of $6.26.

QuantumScape Trading Up 3.8 %

QuantumScape stock traded up $0.18 during mid-day trading on Tuesday, hitting $4.91. The company's stock had a trading volume of 8,452,539 shares, compared to its average volume of 8,849,515. QuantumScape has a 1 year low of $4.65 and a 1 year high of $10.03. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.52 billion, a PE ratio of -5.23 and a beta of 4.60. The stock's fifty day moving average is $5.47 and its two-hundred day moving average is $5.76.

QuantumScape (NYSE:QS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period last year, the business earned ($0.23) EPS. On average, analysts anticipate that QuantumScape will post -0.97 EPS for the current year.

Insider Activity at QuantumScape

In other news, CTO Timothy Holme sold 44,306 shares of QuantumScape stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total transaction of $270,709.66. Following the completion of the sale, the chief technology officer now directly owns 1,168,496 shares in the company, valued at $7,139,510.56. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jagdeep Singh sold 5,531 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares in the company, valued at $12,978,820.83. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 713,986 shares of company stock valued at $4,148,984. Insiders own 12.03% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QS. Nisa Investment Advisors LLC increased its stake in QuantumScape by 6,650.0% in the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company's stock valued at $776,000 after purchasing an additional 133,000 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of QuantumScape during the 2nd quarter valued at about $1,950,000. Sanctuary Advisors LLC purchased a new position in shares of QuantumScape during the 2nd quarter worth about $680,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of QuantumScape in the second quarter worth approximately $644,000. Finally, American Century Companies Inc. grew its holdings in QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company's stock valued at $1,733,000 after purchasing an additional 316,361 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.