QuantumScape (NYSE:QS) Price Target Cut to $5.00

QuantumScape (NYSE:QS) had its target price lowered by investment analysts at UBS Group from $9.00 to $5.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target points to a potential downside of 7.15% from the company’s previous close.

Several other brokerages have also recently weighed in on QS. Robert W. Baird upped their target price on QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Truist Financial lowered their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.30.

QuantumScape Stock Performance

Shares of QuantumScape stock opened at $5.39 on Thursday. The stock’s fifty day moving average is $5.93 and its two-hundred day moving average is $6.42. The company has a market capitalization of $2.67 billion, a PE ratio of -5.61 and a beta of 4.76. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03. QuantumScape has a 52 week low of $4.92 and a 52 week high of $13.86.

QuantumScape (NYSE:QS) last announced 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 quarter in the prior year, the company earned ($0.25) earnings per share. As a group, analysts expect that QuantumScape will post -0.93 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael O. Mccarthy III sold 21,840 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the completion of the sale, the insider now directly owns 731,629 shares in the company, valued at approximately $4,514,150.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael O. Mccarthy III sold 21,840 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the completion of the sale, the insider now directly owns 731,629 shares in the company, valued at approximately $4,514,150.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey B. Straubel sold 69,309 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $6.72, for a total value of $465,756.48. Following the completion of the sale, the director now owns 292,644 shares of the company’s stock, valued at $1,966,567.68. The disclosure for this sale can be found here. Insiders sold 194,970 shares of company stock worth $1,250,775 in the last three months. 10.18% of the stock is owned by insiders.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its stake in QuantumScape by 0.6% in the fourth 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 during the last quarter. Spire Wealth Management increased its holdings in shares of QuantumScape by 39.0% in 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 during the period. Xponance Inc. increased its holdings in shares of QuantumScape by 15.8% in the fourth quarter. Xponance Inc. now owns 12,050 shares of the company’s stock valued at $84,000 after purchasing an additional 1,640 shares during the period. CWM LLC increased its holdings in shares of QuantumScape by 31.1% in the third quarter. CWM LLC now owns 7,555 shares of the company’s stock valued at $51,000 after purchasing an additional 1,794 shares during the period. Finally, C M Bidwell & Associates Ltd. increased its holdings in shares of QuantumScape by 37.3% in the third 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 during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.