QuantumScape (NYSE:QS) Rating Reiterated by Truist Financial

Truist Financial restated their hold rating on shares of QuantumScape (NYSE:QS) in a research note published on Friday morning, Benzinga reports. The firm currently has a $7.00 target price on the stock, up from their prior target price of $6.00.

Several other equities analysts have also issued reports on QS. Wolfe Research started coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, QuantumScape has an average rating of “Hold” and a consensus target price of $6.14.

QuantumScape Stock Performance

Shares of NYSE QS opened at $5.69 on Friday. The stock’s 50-day moving average is $5.69 and its 200 day moving average is $5.80. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -5.92 and a beta of 4.58. QuantumScape has a 1-year low of $4.67 and a 1-year high of $10.03. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted 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 previous year, the firm earned ($0.23) EPS. On average, sell-side analysts anticipate that QuantumScape will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the sale, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QuantumScape news, insider Michael O. Mccarthy III sold 222,476 shares of QuantumScape stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the sale, the insider now directly owns 1,283,847 shares of the company’s stock, valued at approximately $8,447,713.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was 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 of the company’s stock, valued at $5,890,890.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,126,067 shares of company stock valued at $6,659,475 in the last 90 days. Insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in QuantumScape by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after buying an additional 656,646 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of QuantumScape by 240.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after purchasing an additional 3,004,964 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of QuantumScape by 10.3% in the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock worth $16,854,000 after purchasing an additional 251,186 shares in the last quarter. Janus Henderson Group PLC increased its position in QuantumScape by 1.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock valued at $11,482,000 after buying an additional 25,347 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in QuantumScape by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock worth $4,579,000 after acquiring an additional 11,897 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.