QuantumScape (NYSE:QS) Price Target Cut to $6.00 by Analysts at Truist Financial

QuantumScape (NYSE:QS) had its target price reduced by Truist Financial from $8.00 to $6.00 in a research report report published on Monday, Benzinga reports. They currently have a hold rating on the stock.

Separately, Robert W. Baird lifted their target price 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 issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, QuantumScape has an average rating of Hold and an average price target of $6.46.

QuantumScape Stock Down 2.0 %

QS stock opened at $5.48 on Monday. The stock has a market capitalization of $2.72 billion, a P/E ratio of -5.71 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 has a one year low of $4.99 and a one year high of $13.86. The company has a 50 day moving average price of $6.00 and a two-hundred day moving average price of $6.43.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same period in the previous year, the firm earned ($0.25) EPS. As a group, sell-side analysts expect that QuantumScape will post -0.87 EPS for the current year.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total transaction of $226,329.78. Following the transaction, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey B. Straubel sold 69,309 shares of QuantumScape stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The disclosure for this sale can be found here. Insiders have sold a total of 194,970 shares of company stock worth $1,250,775 in the last quarter. 10.18% of the stock is owned by insiders.

Hedge Funds Weigh In On QuantumScape

Hedge funds and other institutional investors have recently made changes to their positions in the business. Spire Wealth Management lifted its holdings in shares of QuantumScape by 39.0% during the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares in the last quarter. Level Financial Advisors Inc. acquired a new position in QuantumScape in the 3rd quarter worth $42,000. International Assets Investment Management LLC lifted its holdings in QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after buying an additional 5,296 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its holdings in QuantumScape by 37.3% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after buying an additional 1,835 shares in the last quarter. Finally, CWM LLC lifted its holdings in QuantumScape by 31.1% in the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after buying an additional 1,794 shares in the last quarter. 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.