QuantumScape (NYSE:QS) PT Lowered to $6.00

QuantumScape (NYSE:QS) had its price target dropped by investment analysts at Truist Financial from $8.00 to $6.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target indicates a potential upside of 7.33% from the stock’s current price.

Separately, Robert W. Baird raised their price objective on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and a consensus price target of $6.46.

QuantumScape Stock Performance

Shares of QuantumScape stock opened at $5.59 on Monday. The company has a market capitalization of $2.77 billion, a PE ratio of -5.82 and a beta of 4.77. QuantumScape has a 12 month low of $4.99 and a 12 month high of $13.86. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $6.05 and its 200 day simple moving average is $6.44.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same period last year, the business earned ($0.25) earnings per share. On average, research analysts predict that QuantumScape will post -0.87 EPS for the current year.

Insider Activity

In other news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the transaction, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the transaction, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now owns 731,629 shares of the company’s stock, valued at approximately $4,514,150.93. The disclosure for this sale can be found here. Insiders sold 194,970 shares of company stock worth $1,250,775 in the last quarter. Corporate insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Hedge funds and other institutional investors have recently bought and sold shares of the business. Spire Wealth Management grew its holdings in QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares during the period. International Assets Investment Management LLC grew its holdings in QuantumScape by 595.1% during the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after purchasing an additional 5,296 shares during the period. Level Financial Advisors Inc. bought a new position in QuantumScape during the third quarter worth about $42,000. C M Bidwell & Associates Ltd. grew its holdings in QuantumScape by 37.3% during the third quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,835 shares during the period. Finally, CWM LLC grew its holdings in QuantumScape by 31.1% during the third quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after purchasing an additional 1,794 shares during the period. Institutional investors own 29.87% of the company’s stock.

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.