Evercore ISI Reaffirms In-Line Rating for QuantumScape (NYSE:QS)

QuantumScape (NYSE:QS)‘s stock had its “in-line” rating reaffirmed by research analysts at Evercore ISI in a research note issued on Monday, Marketbeat.com reports. They currently have a $12.00 target price on the stock, up from their prior target price of $8.00. Evercore ISI’s target price suggests a potential upside of 0.96% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft set a $10.00 price target on shares of QuantumScape and gave the stock a “hold” rating in a research report on Thursday, October 23rd. HSBC cut shares of QuantumScape from a “hold” rating to a “reduce” rating and upped their target price for the company from $5.30 to $10.50 in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuantumScape in a report on Wednesday, October 8th. Hsbc Global Res raised QuantumScape to a “moderate sell” rating in a research note on Wednesday, November 19th. Finally, Cowen reaffirmed a “hold” rating on shares of QuantumScape in a research note on Thursday, October 30th. Six equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, QuantumScape presently has a consensus rating of “Reduce” and a consensus target price of $8.81.

QuantumScape Price Performance

NYSE:QS opened at $11.89 on Monday. The business’s 50-day moving average is $14.55 and its 200 day moving average is $9.88. QuantumScape has a 12 month low of $3.40 and a 12 month high of $19.07. The company has a market capitalization of $7.15 billion, a P/E ratio of -14.67 and a beta of 4.83. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02.

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

Insider Activity

In other QuantumScape news, CTO Timothy Holme sold 201,785 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $12.51, for a total value of $2,524,330.35. Following the sale, the chief technology officer owned 1,251,383 shares in the company, valued at $15,654,801.33. This trade represents a 13.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin Hettrich sold 9,800 shares of QuantumScape stock in a transaction on Friday, November 21st. The stock was sold at an average price of $11.29, for a total value of $110,642.00. Following the sale, the chief financial officer owned 1,502,238 shares of the company’s stock, valued at approximately $16,960,267.02. This trade represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,278,248 shares of company stock worth $47,585,200 in the last three months. Corporate insiders own 5.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. VSM Wealth Advisory LLC boosted its position in QuantumScape by 46.8% in the 3rd quarter. VSM Wealth Advisory LLC now owns 2,352 shares of the company’s stock valued at $29,000 after buying an additional 750 shares during the period. Vontobel Holding Ltd. raised its stake in shares of QuantumScape by 0.7% during the third quarter. Vontobel Holding Ltd. now owns 120,753 shares of the company’s stock valued at $1,488,000 after acquiring an additional 810 shares in the last quarter. Wedmont Private Capital raised its stake in shares of QuantumScape by 5.7% during the third quarter. Wedmont Private Capital now owns 15,115 shares of the company’s stock valued at $186,000 after acquiring an additional 815 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of QuantumScape by 8.2% in the third quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company’s stock valued at $153,000 after purchasing an additional 939 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its stake in QuantumScape by 67.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,505 shares of the company’s stock worth $31,000 after purchasing an additional 1,005 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.