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

by · The Markets Daily

QuantumScape (NYSE:QS – Free Report) had its price target lowered by Truist Financial from $7.00 to $6.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 target price on shares of QuantumScape in a report on Tuesday, September 10th. Wolfe Research began coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating for the company. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.94.

View Our Latest Report on QuantumScape

QuantumScape Price Performance

Shares of QS opened at $5.28 on Wednesday. The stock has a 50 day simple moving average of $5.69 and a 200 day simple moving average of $5.82. QuantumScape has a 52-week low of $4.67 and a 52-week high of $10.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66. The firm has a market capitalization of $2.64 billion, a PE ratio of -5.50 and a beta of 4.58.

QuantumScape (NYSE:QS – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same quarter in the previous year, the company earned ($0.26) EPS. Sell-side analysts predict that QuantumScape will post -0.9 EPS for the current fiscal year.

Insider Transactions at QuantumScape

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

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after buying an additional 3,004,964 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of QuantumScape by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock worth $207,306,000 after acquiring an additional 796,723 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of QuantumScape during the 2nd quarter worth approximately $1,950,000. American Century Companies Inc. raised its stake in QuantumScape by 880.6% in the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after acquiring an additional 316,361 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in QuantumScape by 10.3% during the 1st quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after purchasing an additional 251,186 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

About QuantumScape

(Get Free Report)

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.

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