UBS Group Trims QuantumScape (NYSE:QS) Target Price to $5.00

QuantumScape (NYSE:QS) had its price objective reduced by investment analysts at UBS Group from $9.00 to $5.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock.

A number of other research analysts have also weighed in on QS. Truist Financial dropped their price target on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Monday. Robert W. Baird raised their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and an average price target of $6.30.

QuantumScape Stock Down 8.8 %

NYSE QS traded down $0.48 on Thursday, hitting $5.00. 7,548,136 shares of the company were exchanged, compared to its average volume of 9,339,381. The company has a market cap of $2.48 billion, a PE ratio of -5.21 and a beta of 4.76. QuantumScape has a 12 month low of $4.92 and a 12 month high of $13.86. The stock has a fifty day moving average of $6.00 and a 200-day moving average of $6.43. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same quarter in the previous year, the company earned ($0.25) EPS. As a group, analysts forecast that QuantumScape will post -0.96 earnings per share for the current year.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 554,553 shares of the company’s stock, valued at $3,626,776.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of QuantumScape stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 554,553 shares in the company, valued at $3,626,776.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael O. Mccarthy III sold 21,840 shares of QuantumScape stock in a transaction that occurred on Monday, February 26th. The shares were 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 $4,514,150.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,970 shares of company stock valued at $1,250,775. Corporate insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Hedge funds have recently made changes to their positions in the business. Spire Wealth Management raised its holdings in 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 buying an additional 1,500 shares during the last quarter. International Assets Investment Management LLC raised 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 purchasing an additional 5,296 shares in the last quarter. C M Bidwell & Associates Ltd. raised 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 purchasing an additional 1,835 shares in the last quarter. CWM LLC increased its stake in shares of QuantumScape by 31.1% in the 3rd 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. Finally, Tower Research Capital LLC TRC increased its stake in shares of QuantumScape by 57.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock worth $56,000 after acquiring an additional 2,954 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors.

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.