QuantumScape (NYSE:QS) Price Target Raised to $11.00

QuantumScape (NYSE:QS) had its target price boosted by Robert W. Baird from $6.00 to $11.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

QS has been the topic of a number of other research reports. UBS Group downgraded QuantumScape from a “neutral” rating to a “sell” rating and lowered their target price for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. The Goldman Sachs Group cut their price objective on QuantumScape from $3.00 to $2.50 and set a “sell” rating for the company in a report on Monday, April 28th. Finally, TD Cowen upgraded shares of QuantumScape to a “hold” rating in a report on Monday, July 7th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.90.

QuantumScape Price Performance

NYSE QS opened at $11.94 on Thursday. The firm’s 50 day moving average is $6.66 and its 200-day moving average is $5.26. The company has a quick ratio of 16.66, a current ratio of 16.66 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $6.67 billion, a PE ratio of -13.88 and a beta of 4.42. QuantumScape has a 12-month low of $3.40 and a 12-month high of $15.03.

QuantumScape (NYSE:QS) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The business had revenue of $36.67 million during the quarter. During the same quarter in the prior year, the firm earned ($0.25) EPS. Equities research analysts anticipate that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Timothy Holme sold 358,330 shares of the business’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $7.03, for a total value of $2,519,059.90. Following the completion of the sale, the chief technology officer owned 1,705,428 shares of the company’s stock, valued at approximately $11,989,158.84. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mohit Singh sold 465,000 shares of QuantumScape stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the completion of the sale, the insider owned 1,641,711 shares of the company’s stock, valued at approximately $13,478,447.31. The trade was a 22.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,589,468 shares of company stock valued at $29,734,411 over the last ninety days. 12.03% of the stock is currently owned by company insiders.

Institutional Trading of QuantumScape

Several large investors have recently modified their holdings of QS. Signaturefd LLC boosted its stake in QuantumScape by 2,086.1% in 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 in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of QuantumScape during the fourth quarter worth $26,000. Federated Hermes Inc. increased its holdings in shares of QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after buying an additional 5,438 shares in the last quarter. Hollencrest Capital Management lifted its stake in shares of QuantumScape by 333.3% in the 1st quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock valued at $27,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of QuantumScape during the 4th quarter valued at $29,000. 29.87% of the stock is owned by institutional investors and hedge funds.

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.