QuantumScape Corporation (NYSE:QS) Stock Has Consensus Target Price of $7.36 According to Brokerages

QuantumScape Corporation (NYSE:QS) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $7.36.

Several brokerages recently issued reports on QS. TD Cowen cut their price objective on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Friday, July 24th. Robert W. Baird lowered their target price on QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, October 22nd. William Blair raised QuantumScape to a “hold” rating in a research report on Thursday, October 22nd. Finally, Morgan Stanley dropped their target price on QuantumScape from $8.50 to $4.50 and set an “equal weight” rating on the stock in a research report on Thursday, October 15th.

QuantumScape Trading Down 3.3%

Shares of NYSE:QS opened at $4.06 on Friday. The firm has a fifty day moving average of $4.82 and a two-hundred day moving average of $6.69. The firm has a market capitalization of $2.51 billion, a P/E ratio of -5.01 and a beta of 2.83. QuantumScape has a 12-month low of $3.80 and a 12-month high of $18.56. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 21st. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. During the same quarter in the previous year, the firm earned ($0.18) EPS. The company’s revenue was up .0% compared to the same quarter last year. On average, equities analysts expect that QuantumScape will post -0.82 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, CTO Timothy Holme sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $4.54, for a total value of $204,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 294,599 shares of company stock valued at $1,473,271. Insiders own 3.93% of the company’s stock.

Institutional Trading of QuantumScape

A number of institutional investors have recently added to or reduced their stakes in QS. Mirae Asset Global Investments Co. Ltd. bought a new stake in QuantumScape in the third quarter worth approximately $369,000. Choreo LLC raised its holdings in shares of QuantumScape by 42.7% during the 3rd quarter. Choreo LLC now owns 21,110 shares of the company’s stock valued at $98,000 after purchasing an additional 6,313 shares in the last quarter. Childress Capital Advisors LLC bought a new position in shares of QuantumScape during the 3rd quarter valued at $63,000. Flagship Harbor Advisors LLC lifted its stake in shares of QuantumScape by 10.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 80,070 shares of the company’s stock valued at $372,000 after purchasing an additional 7,750 shares during the last quarter. Finally, Apollon Wealth Management LLC acquired a new stake in shares of QuantumScape in the 3rd quarter valued at $58,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

About QuantumScape

QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries. Its technology is designed to replace the liquid or gel electrolytes used in conventional lithium-ion batteries with a solid-state separator, with the goal of improving energy density, charging performance, safety and operating range for electric vehicles.

The company is developing prototype battery cells and related manufacturing processes for automotive applications.