QuantumScape Co. (NYSE:QS – Get Free Report)’s share price fell 9.5% on Thursday after UBS Group lowered their price target on the stock from $9.00 to $5.00. UBS Group currently has a neutral rating on the stock. QuantumScape traded as low as $4.92 and last traded at $4.96. 6,020,750 shares were traded during trading, a decline of 35% from the average session volume of 9,317,990 shares. The stock had previously closed at $5.48.
Other equities analysts also recently issued research reports about the company. Robert W. Baird boosted their price target on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Truist Financial dropped their price target on QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus target price of $6.30.
Check Out Our Latest Analysis on QS
Insider Transactions at QuantumScape
Hedge Funds Weigh In On QuantumScape
A number of hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund raised its position in shares of QuantumScape by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock valued at $1,638,000 after buying an additional 1,481 shares in the last quarter. Spire Wealth Management raised its position in QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares in the last quarter. Xponance Inc. lifted its stake in QuantumScape by 15.8% during the fourth quarter. Xponance Inc. now owns 12,050 shares of the company’s stock worth $84,000 after purchasing an additional 1,640 shares during the last quarter. CWM LLC boosted its holdings in shares of QuantumScape by 31.1% in the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock valued at $51,000 after purchasing an additional 1,794 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. boosted its holdings in shares of QuantumScape by 37.3% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock valued at $45,000 after purchasing an additional 1,835 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.
QuantumScape Stock Performance
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 company has a market cap of $2.67 billion, a P/E ratio of -5.61 and a beta of 4.76. The company has a 50 day moving average price of $5.93 and a 200-day moving average price of $6.42.
QuantumScape (NYSE:QS – Get Free Report) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same quarter in the previous year, the company posted ($0.25) earnings per share. On average, equities analysts expect that QuantumScape Co. will post -0.93 earnings per share for the current fiscal year.
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.
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