QuantumScape (NYSE:QS) Given New $3.00 Price Target at Morgan Stanley

QuantumScape (NYSE:QS – Get Rating) had its price target dropped by analysts at Morgan Stanley from $4.00 to $3.00 in a research note issued on Wednesday, The Fly reports. Morgan Stanley’s price objective suggests a potential downside of 61.88% from the company’s current price.

A number of other brokerages have also commented on QS. The Goldman Sachs Group lowered QuantumScape from a “neutral” rating to a “sell” rating and lowered their price target for the company from $8.00 to $5.00 in a report on Wednesday, December 14th. Truist Financial assumed coverage on QuantumScape in a research note on Wednesday, September 28th. They set a “hold” rating and a $10.00 target price for the company. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.71.

QuantumScape Price Performance

Shares of QS opened at $7.87 on Wednesday. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -9.15 and a beta of 5.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 25.68 and a current ratio of 25.68. QuantumScape has a one year low of $5.11 and a one year high of $22.21. The stock’s fifty day moving average is $6.71 and its 200-day moving average is $8.78.

QuantumScape (NYSE:QS – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Equities analysts anticipate that QuantumScape will post -0.93 EPS for the current year.

Insider Activity at QuantumScape

In related news, insider Mohit Singh sold 8,500 shares of the stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $7.80, for a total value of $66,300.00. Following the completion of the transaction, the insider now owns 277,794 shares in the company, valued at approximately $2,166,793.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 66,343 shares of company stock worth $507,926 in the last quarter. 13.73% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently modified their holdings of QS. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in QuantumScape in the 2nd quarter worth about $30,000. Emfo LLC purchased a new stake in QuantumScape in the 3rd quarter worth about $32,000. Bray Capital Advisors purchased a new stake in QuantumScape in the 3rd quarter worth about $47,000. Allworth Financial LP lifted its stake in QuantumScape by 37.5% in the 4th quarter. Allworth Financial LP now owns 9,359 shares of the company’s stock worth $53,000 after acquiring an additional 2,554 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC lifted its stake in QuantumScape by 19.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 10,642 shares of the company’s stock worth $60,000 after acquiring an additional 1,741 shares in the last quarter. Institutional investors and hedge funds own 26.09% of the company’s stock.

About QuantumScape

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QuantumScape Corporation, a 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.