QuantumScape (NYSE:QS) Raised to Hold at HSBC

HSBC upgraded shares of QuantumScape (NYSE:QS) from a reduce rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat reports. HSBC currently has $5.30 target price on the stock.

Other research analysts have also recently issued research reports about the company. Truist Financial reiterated a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Wolfe Research began coverage on QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of “Hold” and an average price target of $6.26.

QuantumScape Trading Up 2.4 %

NYSE:QS opened at $5.16 on Tuesday. The stock has a 50-day simple moving average of $5.41 and a 200-day simple moving average of $5.74. QuantumScape has a 1 year low of $4.65 and a 1 year high of $10.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The stock has a market cap of $2.64 billion, a P/E ratio of -5.43 and a beta of 4.60.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the business earned ($0.23) EPS. As a group, analysts anticipate that QuantumScape will post -0.97 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 5,531 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the transaction, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This trade represents a 0.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael O. Mccarthy III sold 106,084 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $5.90, for a total value of $625,895.60. Following the completion of the sale, the insider now directly owns 1,181,884 shares in the company, valued at $6,973,115.60. This represents a 8.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 702,057 shares of company stock valued at $3,982,909 in the last quarter. Insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares in the last quarter. International Assets Investment Management LLC raised its stake in QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after acquiring an additional 4,228 shares in the last quarter. CWM LLC increased its holdings in shares of QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of QuantumScape in the second quarter valued at $36,000. Finally, Alaska Wealth Advisors bought a new stake in shares of QuantumScape during the second quarter valued at approximately $49,000. 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.