QuantumScape (NYSE:QS) Price Target Lowered to $3.00 at The Goldman Sachs Group

QuantumScape (NYSE:QS) had its price objective reduced by investment analysts at The Goldman Sachs Group from $4.00 to $3.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 19.89% from the company’s current price.

Several other equities research analysts have also commented on the stock. Evercore ISI reissued a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Truist Financial reduced their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Finally, UBS Group cut QuantumScape from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $5.00 to $2.50 in a report on Thursday. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.13.

QuantumScape Stock Performance

QS traded down $0.31 during trading on Thursday, reaching $3.75. 7,527,142 shares of the company’s stock were exchanged, compared to its average volume of 10,665,875. The company’s fifty day simple moving average is $4.56 and its 200-day simple moving average is $5.06. The stock has a market capitalization of $2.05 billion, a P/E ratio of -4.01 and a beta of 4.37. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. QuantumScape has a 1 year low of $3.40 and a 1 year high of $9.52.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). As a group, research analysts predict that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 76,315 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $399,127.45. Following the transaction, the insider now owns 1,010,523 shares of the company’s stock, valued at $5,285,035.29. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Hettrich sold 36,949 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the sale, the chief financial officer now directly owns 1,024,325 shares in the company, valued at approximately $5,183,084.50. The trade was a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 180,147 shares of company stock worth $935,758 in the last quarter. Company insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in QuantumScape by 74.9% in the third quarter. FMR LLC now owns 14,070 shares of the company’s stock valued at $81,000 after buying an additional 6,026 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in QuantumScape in the 3rd quarter valued at $96,000. Stifel Financial Corp boosted its stake in shares of QuantumScape by 59.5% during the third quarter. Stifel Financial Corp now owns 135,317 shares of the company’s stock worth $778,000 after buying an additional 50,462 shares during the period. State Street Corp lifted its stake in shares of QuantumScape by 1.5% in the third quarter. State Street Corp now owns 5,918,496 shares of the company’s stock valued at $34,031,000 after purchasing an additional 87,563 shares during the period. Finally, XTX Topco Ltd purchased a new position in QuantumScape in the third quarter valued at about $464,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.