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

QuantumScape Co. (NYSE:QS) has been assigned an average rating of “Reduce” from the eight brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $6.26.

A number of research firms recently weighed in on QS. Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research report on Tuesday, November 19th. Truist Financial reiterated a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th.

Insiders Place Their Bets

In other news, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the transaction, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Hettrich sold 55,647 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the sale, the chief financial officer now directly owns 1,022,743 shares of the company’s stock, valued at approximately $5,164,852.15. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 858,302 shares of company stock valued at $4,701,379. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several institutional investors have recently modified their holdings of the stock. 180 Wealth Advisors LLC increased its position in shares of QuantumScape by 2.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock valued at $392,000 after buying an additional 2,059 shares in the last quarter. Signaturefd LLC grew its stake in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after acquiring an additional 2,148 shares during the period. CWM LLC increased its holdings in shares of QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after acquiring an additional 2,556 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of QuantumScape by 32.4% during the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after purchasing an additional 3,310 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of QuantumScape by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock valued at $413,000 after purchasing an additional 3,527 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Trading Down 0.7 %

QuantumScape stock opened at $4.90 on Wednesday. QuantumScape has a 52 week low of $4.65 and a 52 week high of $10.03. 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 firm has a market capitalization of $2.51 billion, a PE ratio of -5.15 and a beta of 4.50. The business’s 50-day simple moving average is $5.21 and its 200-day simple moving average is $5.67.

QuantumScape (NYSE:QS) last released its 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 quarter in the previous year, the business posted ($0.23) EPS. Equities research analysts forecast that QuantumScape will post -0.99 earnings per share for the current 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.