QuantumScape (NYSE:QS) PT Lowered to $6.00 at Truist Financial

QuantumScape (NYSE:QS) had its price objective lowered by Truist Financial from $7.00 to $6.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts also recently issued reports on QS. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Wolfe Research started coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.94.

QuantumScape Stock Performance

NYSE QS opened at $5.28 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66. The company has a fifty day moving average price of $5.69 and a 200-day moving average price of $5.82. QuantumScape has a 1 year low of $4.67 and a 1 year high of $10.03. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -5.50 and a beta of 4.58.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period in the previous year, the company earned ($0.26) EPS. As a group, equities research analysts predict that QuantumScape will post -0.9 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the sale, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at $5,890,890.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total transaction of $76,931.68. Following the sale, the director now directly owns 254,103 shares in the company, valued at $1,514,453.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,126,067 shares of company stock worth $6,659,475. 10.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its position in shares of QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after acquiring an additional 2,556 shares during the period. Mather Group LLC. bought a new position in QuantumScape in the 2nd quarter valued at $36,000. Alaska Wealth Advisors purchased a new position in shares of QuantumScape during the 2nd quarter valued at $49,000. Centaurus Financial Inc. bought a new position in shares of QuantumScape in the second quarter worth $52,000. Finally, Financial Advocates Investment Management purchased a new stake in shares of QuantumScape in the second quarter worth $58,000. Institutional investors own 29.87% of the company’s stock.

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.