Deutsche Bank Aktiengesellschaft Initiates Coverage on QuantumScape (NYSE:QS)

Research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of QuantumScape (NYSE:QSGet Rating) in a note issued to investors on Tuesday, MarketBeat reports. The firm set a “hold” rating and a $20.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 8.23% from the company’s current price.

QS has been the subject of a number of other reports. Zacks Investment Research cut QuantumScape from a “hold” rating to a “strong sell” rating in a report on Friday, February 25th. UBS Group began coverage on QuantumScape in a report on Friday, January 28th. They issued a “neutral” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on QuantumScape from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday, February 22nd. Morgan Stanley cut their price objective on QuantumScape from $40.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, February 23rd. Finally, Sumitomo Mitsui Financial Group began coverage on QuantumScape in a report on Tuesday, March 29th. They issued a “neutral” rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.33.

QuantumScape stock opened at $18.48 on Tuesday. QuantumScape has a 52 week low of $13.21 and a 52 week high of $44.27. The business has a 50-day simple moving average of $16.86 and a 200 day simple moving average of $22.23. The company has a quick ratio of 47.81, a current ratio of 47.81 and a debt-to-equity ratio of 0.02. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of -30.29 and a beta of 9.08.

QuantumScape (NYSE:QSGet Rating) last posted its earnings results on Wednesday, February 16th. The company reported ($0.16) EPS for the quarter. During the same period last year, the firm posted ($0.15) earnings per share. On average, research analysts anticipate that QuantumScape will post -0.79 earnings per share for the current year.

In other QuantumScape news, Director Fritz Prinz sold 155,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $17.03, for a total transaction of $2,649,868.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 46,285 shares of the company’s stock in a transaction that occurred on Thursday, February 3rd. The shares were sold at an average price of $16.29, for a total value of $753,982.65. The disclosure for this sale can be found here. Insiders have sold a total of 957,174 shares of company stock valued at $15,845,314 over the last 90 days. 16.22% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exos Asset Management LLC raised its position in shares of QuantumScape by 13.6% in the 1st quarter. Exos Asset Management LLC now owns 6,071 shares of the company’s stock worth $121,000 after acquiring an additional 726 shares in the last quarter. Coastal Investment Advisors Inc. boosted its stake in QuantumScape by 6.1% during the 1st quarter. Coastal Investment Advisors Inc. now owns 14,587 shares of the company’s stock valued at $292,000 after purchasing an additional 838 shares during the last quarter. Strategy Asset Managers LLC purchased a new stake in QuantumScape during the 1st quarter valued at $214,000. Norges Bank purchased a new position in shares of QuantumScape in the 4th quarter worth $65,452,000. Finally, JustInvest LLC boosted its stake in shares of QuantumScape by 231.1% in the 4th quarter. JustInvest LLC now owns 32,453 shares of the company’s stock worth $720,000 after buying an additional 22,650 shares during the last quarter. 20.03% of the stock is owned by institutional investors and hedge funds.

QuantumScape Company Profile (Get Rating)

QuantumScape Corporation, a 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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