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

Shares of QuantumScape Co. (NYSE:QS) have been assigned a consensus rating of “Reduce” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $6.26.

A number of research firms have recently commented on QS. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Truist Financial restated a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research note on Tuesday, November 19th.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 27,305 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.07, for a total value of $138,436.35. Following the completion of the sale, the insider now directly owns 1,129,167 shares in the company, valued at $5,724,876.69. This represents a 2.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mohit Singh sold 97,305 shares of QuantumScape 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 transaction, the insider now owns 1,092,020 shares in the company, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 536,460 shares of company stock valued at $2,903,619 over the last 90 days. 12.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in QuantumScape by 79.9% in the 3rd 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. International Assets Investment Management LLC lifted its holdings in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after acquiring an additional 4,228 shares during the last quarter. Centaurus Financial Inc. purchased a new position in QuantumScape in the second quarter worth approximately $52,000. Atom Investors LP acquired a new stake in QuantumScape during the third quarter worth $60,000. Finally, CIBC Asset Management Inc purchased a new stake in QuantumScape in the second quarter valued at $61,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Stock Performance

Shares of NYSE QS opened at $5.61 on Friday. QuantumScape has a 1 year low of $4.65 and a 1 year high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company’s fifty day moving average price is $5.23 and its 200 day moving average price is $5.69. The company has a market capitalization of $2.87 billion, a PE ratio of -5.91 and a beta of 4.46.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the business posted ($0.23) earnings per share. On average, research analysts predict that QuantumScape will post -0.99 earnings per share for the current year.

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.