QuantumScape Co. (NYSE:QS) Receives $6.06 Consensus PT from Brokerages

Shares of QuantumScape Co. (NYSE:QS) have earned an average recommendation of “Reduce” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $6.06.

QS has been the topic of a number of research analyst reports. Truist Financial cut their target price on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a research note on Tuesday. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a research note on Tuesday, November 19th. Finally, Hsbc Global Res upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th.

Insider Activity at QuantumScape

In other news, insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now directly owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Hettrich sold 36,949 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the transaction, the chief financial officer now directly owns 1,024,325 shares of the company’s stock, valued at $5,183,084.50. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 615,216 shares of company stock worth $3,327,157. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its holdings in shares of QuantumScape by 6,650.0% in the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after acquiring an additional 133,000 shares during the period. Geode Capital Management LLC raised its position in shares of QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after buying an additional 218,743 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of QuantumScape in the third quarter worth $828,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of QuantumScape in the fourth quarter worth $1,275,000. Finally, SG Americas Securities LLC raised its position in shares of QuantumScape by 127.0% in the fourth quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock worth $1,062,000 after buying an additional 114,504 shares in the last quarter. 29.87% of the stock is owned by institutional investors.

QuantumScape Price Performance

Shares of NYSE QS opened at $4.69 on Monday. QuantumScape has a twelve month low of $4.58 and a twelve month high of $9.52. The stock’s 50 day moving average price is $5.28 and its 200-day moving average price is $5.38. The company has a market capitalization of $2.40 billion, a PE ratio of -4.98 and a beta of 4.45. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). On average, equities analysts anticipate that QuantumScape will post -0.82 EPS 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.