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

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

QS has been the subject of several recent analyst reports. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th.

Insider Buying and Selling at QuantumScape

In related news, 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 transaction of $607,183.20. Following the completion of the sale, the insider now directly owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. The trade was a 8.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin Hettrich sold 55,647 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.05, for a total value of $281,017.35. Following the completion of the sale, the chief financial officer now owns 1,022,743 shares of the company’s stock, valued at $5,164,852.15. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 536,460 shares of company stock worth $2,903,619. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in shares of QuantumScape by 79.9% during 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 in the last quarter. International Assets Investment Management LLC raised its holdings in QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after buying an additional 4,228 shares during the period. Atom Investors LP bought a new position in QuantumScape in the third quarter valued at approximately $60,000. Centaurus Financial Inc. acquired a new position in shares of QuantumScape in the second quarter valued at approximately $52,000. Finally, Nwam LLC bought a new stake in shares of QuantumScape during the third quarter worth $64,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Stock Performance

NYSE QS opened at $5.72 on Friday. QuantumScape has a twelve month low of $4.65 and a twelve month high of $9.66. 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 stock has a market cap of $2.93 billion, a P/E ratio of -6.02 and a beta of 4.46. The company’s 50-day simple moving average is $5.22 and its 200 day simple moving average is $5.68.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the prior year, the business earned ($0.23) earnings per share. As a group, research analysts forecast that QuantumScape will post -0.99 earnings per share for the current fiscal year.

QuantumScape Company Profile

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.