QuantumScape (NYSE:QS) Earns “In-Line” Rating from Evercore ISI

QuantumScape (NYSE:QS)‘s stock had its “in-line” rating reissued by equities researchers at Evercore ISI in a research note issued on Monday, Marketbeat Ratings reports. They presently have a $12.00 price objective on the stock, up from their prior price objective of $8.00. Evercore ISI’s price target indicates a potential upside of 1.01% from the stock’s current price.

A number of other analysts have also weighed in on the stock. TD Cowen raised their price target on shares of QuantumScape from $5.00 to $16.00 and gave the company a “hold” rating in a report on Thursday, October 30th. Cowen reissued a “hold” rating on shares of QuantumScape in a research note on Thursday, October 30th. HSBC downgraded QuantumScape from a “hold” rating to a “reduce” rating and boosted their target price for the stock from $5.30 to $10.50 in a research report on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the company a “hold” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $8.81.

QuantumScape Stock Performance

QuantumScape stock opened at $11.88 on Monday. The stock has a 50-day simple moving average of $14.52 and a 200 day simple moving average of $9.83. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of -14.67 and a beta of 4.83. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. QuantumScape has a 12-month low of $3.40 and a 12-month high of $19.07.

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

Insiders Place Their Bets

In other news, insider Mohit Singh sold 220,000 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $15.09, for a total value of $3,319,800.00. Following the completion of the sale, the insider directly owned 1,420,054 shares of the company’s stock, valued at $21,428,614.86. This represents a 13.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey B. Straubel sold 157,171 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $16.93, for a total transaction of $2,660,905.03. Following the completion of the sale, the director owned 293,934 shares in the company, valued at $4,976,302.62. This represents a 34.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,268,448 shares of company stock valued at $47,474,558 in the last ninety days. 5.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. bought a new position in shares of QuantumScape during the third quarter worth $129,000. Coldstream Capital Management Inc. raised its stake in QuantumScape by 8.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company’s stock worth $153,000 after buying an additional 939 shares during the period. Advisory Services Network LLC acquired a new stake in QuantumScape during the 3rd quarter worth $809,000. Kestra Private Wealth Services LLC lifted its holdings in QuantumScape by 121.4% during the third quarter. Kestra Private Wealth Services LLC now owns 68,706 shares of the company’s stock worth $846,000 after acquiring an additional 37,668 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in QuantumScape by 207.3% in the third quarter. NewEdge Advisors LLC now owns 64,343 shares of the company’s stock valued at $793,000 after acquiring an additional 43,402 shares during the period. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.