Brokerages Set QuantumScape Co. (NYSE:QS) Price Target at $5.19

QuantumScape Co. (NYSE:QS) has been given an average rating of “Reduce” by the nine research firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $5.19.

QS has been the topic of a number of research analyst reports. Robert W. Baird lowered their target price on QuantumScape from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group cut their target price on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a research report on Monday, April 28th. UBS Group downgraded QuantumScape from a “neutral” rating to a “sell” rating and cut their price objective for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Truist Financial cut their price objective on QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Finally, Evercore ISI reissued a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th.

QuantumScape Stock Performance

Shares of NYSE:QS opened at $4.13 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. QuantumScape has a one year low of $3.40 and a one year high of $9.52. The business’s 50-day simple moving average is $3.97 and its 200 day simple moving average is $4.66. The company has a market cap of $2.31 billion, a P/E ratio of -4.39 and a beta of 4.27.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). During the same period in the prior year, the business posted ($0.24) earnings per share. On average, sell-side analysts forecast that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mohit Singh sold 71,428 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $4.41, for a total value of $314,997.48. Following the completion of the transaction, the insider now owns 1,640,998 shares of the company’s stock, valued at approximately $7,236,801.18. This represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fritz Prinz sold 61,523 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $3.94, for a total value of $242,400.62. Following the transaction, the director now directly owns 231,530 shares of the company’s stock, valued at approximately $912,228.20. This trade represents a 20.99% decrease in their position. The disclosure for this sale can be found here. 12.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently made changes to their positions in QS. Signaturefd LLC grew its stake in shares of QuantumScape by 2,086.1% during the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock valued at $25,000 after buying an additional 5,841 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of QuantumScape during the fourth quarter valued at approximately $26,000. Federated Hermes Inc. boosted its holdings in shares of QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after purchasing an additional 5,438 shares during the period. Hollencrest Capital Management boosted its holdings in shares of QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the period. Finally, Raiffeisen Bank International AG purchased a new stake in shares of QuantumScape in the fourth quarter valued at approximately $29,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.