QuantumScape (NYSE:QS) Price Target Lowered to $6.00 at Truist Financial

QuantumScape (NYSE:QS) had its price target lowered by Truist Financial from $8.00 to $6.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a hold rating on the stock.

Separately, Robert W. Baird lifted their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, QuantumScape currently has a consensus rating of Hold and an average price target of $6.46.

QuantumScape Stock Up 0.5 %

NYSE QS opened at $5.39 on Monday. The stock has a 50 day moving average price of $6.08 and a 200-day moving average price of $6.44. QuantumScape has a one year low of $4.99 and a one year high of $13.86. The company has a market capitalization of $2.67 billion, a P/E ratio of -5.61 and a beta of 4.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period last year, the firm earned ($0.25) EPS. As a group, equities analysts predict that QuantumScape will post -0.87 EPS for the current fiscal year.

Insider Activity

In related news, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other QuantumScape news, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the sale, the insider now owns 731,629 shares of the company’s stock, valued at approximately $4,514,150.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the transaction, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 194,970 shares of company stock valued at $1,250,775. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QS. CWM LLC boosted its holdings in QuantumScape by 31.1% in the third quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after acquiring an additional 1,794 shares in the last quarter. AE Wealth Management LLC purchased a new stake in QuantumScape during the 3rd quarter worth approximately $74,000. SG Americas Securities LLC increased its stake in QuantumScape by 67.8% during the 3rd quarter. SG Americas Securities LLC now owns 67,842 shares of the company’s stock valued at $454,000 after purchasing an additional 27,412 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of QuantumScape in the third quarter worth $88,000. Finally, Oak Thistle LLC acquired a new stake in shares of QuantumScape during the third quarter worth $916,000. 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.