QuantumScape (NYSE:QS) PT Lowered to $6.00

QuantumScape (NYSE:QS) had its target price decreased by equities researchers at Truist Financial from $8.00 to $6.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 7.33% from the company’s current price.

Separately, Robert W. Baird increased their price target 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, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.46.

QuantumScape Stock Performance

QS opened at $5.59 on Monday. QuantumScape has a 52-week low of $4.99 and a 52-week high of $13.86. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.77 billion, a P/E ratio of -5.82 and a beta of 4.77. The firm’s 50-day moving average price is $6.05 and its 200-day moving average price is $6.44.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the previous year, the business posted ($0.25) EPS. As a group, equities analysts anticipate that QuantumScape will post -0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the sale, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.11, for a total transaction of $211,448.77. Following the transaction, the chief financial officer now owns 556,302 shares in the company, valued at approximately $3,399,005.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey B. Straubel sold 69,309 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,970 shares of company stock worth $1,250,775. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. lifted its holdings in QuantumScape by 97.7% in the 3rd quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after purchasing an additional 51,934 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC lifted its holdings in QuantumScape by 34.5% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock valued at $77,000 after purchasing an additional 2,861 shares in the last quarter. Scotia Capital Inc. purchased a new position in QuantumScape in the 3rd quarter valued at $95,000. HBK Sorce Advisory LLC lifted its holdings in QuantumScape by 11.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock valued at $150,000 after purchasing an additional 2,264 shares in the last quarter. Finally, Simplicity Solutions LLC purchased a new position in QuantumScape in the 4th quarter valued at $719,000. Hedge funds and other institutional investors 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.