QuantumScape Co. (NYSE:QS – Get Rating) was up 7% on Friday . The company traded as high as $7.69 and last traded at $7.67. Approximately 133,085 shares were traded during trading, a decline of 98% from the average daily volume of 7,334,586 shares. The stock had previously closed at $7.17.
Analyst Upgrades and Downgrades
QS has been the topic of several recent analyst reports. Truist Financial initiated coverage on QuantumScape in a research note on Wednesday, September 28th. They issued a “hold” rating and a $10.00 target price on the stock. Morgan Stanley lowered shares of QuantumScape from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $12.00 to $4.00 in a report on Wednesday, November 9th. Finally, The Goldman Sachs Group lowered shares of QuantumScape from a “neutral” rating to a “sell” rating and lowered their target price for the company from $8.00 to $5.00 in a report on Wednesday, December 14th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.86.
QuantumScape Stock Performance
The firm’s 50 day simple moving average is $6.70 and its 200 day simple moving average is $8.81. The company has a current ratio of 25.68, a quick ratio of 25.68 and a debt-to-equity ratio of 0.03. The firm has a market cap of $3.37 billion, a PE ratio of -8.99 and a beta of 5.27.
Insiders Place Their Bets
In other news, insider Mohit Singh sold 6,843 shares of the stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $7.51, for a total transaction of $51,390.93. Following the transaction, the insider now directly owns 277,794 shares in the company, valued at $2,086,232.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 57,843 shares of company stock worth $441,626 in the last three months. Corporate insiders own 13.73% of the company’s stock.
Hedge Funds Weigh In On QuantumScape
Several hedge funds and other institutional investors have recently modified their holdings of QS. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in QuantumScape during the 2nd quarter worth approximately $30,000. Emfo LLC acquired a new position in shares of QuantumScape during the 3rd quarter worth $32,000. Bray Capital Advisors acquired a new position in shares of QuantumScape during the 3rd quarter worth $47,000. Allworth Financial LP grew its stake in QuantumScape by 37.5% in the 4th quarter. Allworth Financial LP now owns 9,359 shares of the company’s stock valued at $53,000 after acquiring an additional 2,554 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC grew its stake in QuantumScape by 19.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 10,642 shares of the company’s stock valued at $60,000 after acquiring an additional 1,741 shares during the last quarter. 26.09% of the stock is owned by hedge funds and other institutional investors.
QuantumScape Company Profile
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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