Analysts Set QuantumScape Corporation (NYSE:QS) Price Target at $7.66

Shares of QuantumScape Corporation (NYSE:QS) have been assigned an average recommendation of “Reduce” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $7.6625.

QS has been the topic of a number of analyst reports. Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research report on Thursday. TD Cowen lifted their target price on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a research note on Thursday, October 30th. Robert W. Baird boosted their price objective on QuantumScape from $6.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 target price on QuantumScape and gave the stock a “hold” rating in a research report on Thursday, October 23rd.

QuantumScape Trading Down 11.9%

NYSE:QS opened at $16.25 on Friday. The business’s 50-day moving average is $12.81 and its two-hundred day moving average is $8.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14. QuantumScape has a 12 month low of $3.40 and a 12 month high of $19.07. The firm has a market capitalization of $9.20 billion, a PE ratio of -20.06 and a beta of 4.85.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of ($36.67) million during the quarter. During the same quarter in the previous year, the business earned ($0.23) earnings per share. Research analysts predict that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other QuantumScape news, insider Mohit Singh sold 220,000 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $15.09, for a total transaction of $3,319,800.00. Following the sale, the insider directly owned 1,420,054 shares of the company’s stock, valued at $21,428,614.86. The trade was a 13.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Timothy Holme sold 44,923 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $15.52, for a total transaction of $697,204.96. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,844,134 shares of company stock worth $41,397,924. Insiders own 5.48% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds have recently bought and sold shares of QS. Vontobel Holding Ltd. increased its holdings in shares of QuantumScape by 0.7% during the third quarter. Vontobel Holding Ltd. now owns 120,753 shares of the company’s stock worth $1,488,000 after buying an additional 810 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of QuantumScape by 5.7% during the third quarter. Wedmont Private Capital now owns 15,115 shares of the company’s stock worth $186,000 after buying an additional 815 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of QuantumScape by 67.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock worth $31,000 after buying an additional 1,005 shares in the last quarter. CWM LLC increased its holdings in shares of QuantumScape by 69.1% during the third quarter. CWM LLC now owns 2,625 shares of the company’s stock worth $32,000 after buying an additional 1,073 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in shares of QuantumScape by 6.0% during the third quarter. Maryland State Retirement & Pension System now owns 20,855 shares of the company’s stock worth $257,000 after buying an additional 1,173 shares in the last quarter. 29.87% of the stock is currently owned by 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.