QuantumScape (NYSE:QS) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of QuantumScape (NYSE:QS) to a moderate sell rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. HSBC cut QuantumScape from a “hold” rating to a “reduce” rating and lifted their price target for the stock from $5.30 to $10.50 in a report on Wednesday. Robert W. Baird raised their price objective on QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Cowen reiterated a “hold” rating on shares of QuantumScape in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a research note on Wednesday, October 8th. Finally, TD Cowen raised their price target on QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, October 30th. Six research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $8.31.

QuantumScape Price Performance

Shares of QS opened at $11.45 on Wednesday. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The company’s fifty day simple moving average is $14.49 and its 200 day simple moving average is $9.69. QuantumScape has a 1-year low of $3.40 and a 1-year high of $19.07. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -14.14 and a beta of 4.83.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). During the same quarter last year, the firm posted ($0.23) earnings per share. On average, research analysts forecast that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 980,878 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $15.49, for a total transaction of $15,193,800.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brad W. Buss sold 400,000 shares of QuantumScape stock in a transaction on Friday, October 24th. The stock was sold at an average price of $15.75, for a total value of $6,300,000.00. Following the sale, the director directly owned 122,476 shares of the company’s stock, valued at $1,928,997. This represents a 76.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,268,448 shares of company stock valued at $47,474,558 in the last 90 days. Corporate insiders own 5.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tsfg LLC raised its position in shares of QuantumScape by 233.3% in the third quarter. Tsfg LLC now owns 2,000 shares of the company’s stock valued at $25,000 after buying an additional 1,400 shares in the last quarter. REAP Financial Group LLC grew its position in QuantumScape by 300.0% during the third quarter. REAP Financial Group LLC now owns 2,000 shares of the company’s stock worth $25,000 after buying an additional 1,500 shares in the last quarter. Russell Investments Group Ltd. increased its stake in QuantumScape by 685.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock worth $25,000 after acquiring an additional 3,311 shares during the period. Federated Hermes Inc. raised its holdings in QuantumScape by 660.0% in the 1st quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock valued at $26,000 after acquiring an additional 5,438 shares in the last quarter. Finally, North Capital Inc. bought a new stake in shares of QuantumScape during the 2nd quarter valued at $27,000. Institutional investors and hedge funds own 29.87% of the company’s stock.

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.