QuantumScape (NYSE:QS) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of QuantumScape (NYSE:QS) to a hold rating in a research note released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research note on Tuesday. Wolfe Research began coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. Finally, Truist Financial reissued a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, QuantumScape presently has an average rating of “Hold” and an average target price of $6.26.

QuantumScape Trading Down 0.3 %

NYSE QS opened at $5.06 on Tuesday. The stock has a market cap of $2.59 billion, a P/E ratio of -5.32 and a beta of 4.60. The company’s fifty day simple moving average is $5.43 and its 200-day simple moving average is $5.74. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape has a 52 week low of $4.65 and a 52 week high of $10.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the business posted ($0.23) EPS. Equities research analysts predict that QuantumScape will post -0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, Director Jagdeep Singh sold 192,270 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total value of $1,151,697.30. Following the sale, the director now directly owns 2,590,583 shares in the company, valued at approximately $15,517,592.17. This trade represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael O. Mccarthy III sold 106,084 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $5.90, for a total transaction of $625,895.60. Following the transaction, the insider now owns 1,181,884 shares of the company’s stock, valued at $6,973,115.60. This represents a 8.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 606,197 shares of company stock valued at $3,498,399. Company insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in shares of QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after buying an additional 133,000 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in QuantumScape during the 2nd quarter valued at $1,950,000. Sanctuary Advisors LLC acquired a new position in QuantumScape during the 2nd quarter worth $680,000. Susquehanna Fundamental Investments LLC bought a new position in shares of QuantumScape in the second quarter worth $644,000. Finally, American Century Companies Inc. increased its holdings in shares of QuantumScape by 880.6% during the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares during the period. 29.87% of the stock is owned by institutional investors and hedge funds.

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.