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

QuantumScape (NYSE:QS) was upgraded by equities research analysts at HSBC from a “reduce” rating to a “hold” rating in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $5.30 price objective on the stock. HSBC’s price target indicates a potential upside of 12.05% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Truist Financial reiterated a “hold” rating and issued a $7.00 target price (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research note on Tuesday, September 10th. Finally, Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Stock Down 0.2 %

QS stock opened at $4.73 on Tuesday. QuantumScape has a 12-month low of $4.65 and a 12-month high of $10.03. 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 $2.42 billion, a price-to-earnings ratio of -4.98 and a beta of 4.60. The company has a 50 day moving average of $5.47 and a two-hundred day moving average of $5.76.

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

Insider Activity

In related news, Director Jagdeep Singh sold 5,531 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total value of $27,710.31. Following the sale, the director now owns 2,590,583 shares of the company’s stock, valued at $12,978,820.83. The trade was a 0.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 50,575 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.99, for a total value of $302,944.25. Following the completion of the transaction, the insider now directly owns 1,184,745 shares in the company, valued at approximately $7,096,622.55. This represents a 4.09 % 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 worth $4,148,984. Corporate insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC boosted its stake in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC boosted its stake in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares in the last quarter. CWM LLC boosted its stake in QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after purchasing an additional 2,556 shares in the last quarter. Mather Group LLC. bought a new stake in shares of QuantumScape during the second quarter worth $36,000. Finally, Alaska Wealth Advisors bought a new stake in shares of QuantumScape during the second quarter worth $49,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.