QuantumScape (NYSE:QS) Upgraded by HSBC to “Hold” Rating

QuantumScape (NYSE:QS) was upgraded by equities researchers at HSBC from a “reduce” rating to a “hold” rating in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a $5.30 price target on the stock. HSBC’s target price would suggest a potential upside of 12.05% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Wolfe Research started coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating for the company. Truist Financial restated a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.26.

QuantumScape Trading Down 0.2 %

NYSE QS opened at $4.73 on Tuesday. The stock has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $5.76. The company has a market capitalization of $2.42 billion, a PE ratio of -4.98 and a beta of 4.60. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape has a 12 month low of $4.65 and a 12 month high of $10.03.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter last year, the company posted ($0.23) earnings per share. Research analysts forecast that QuantumScape will post -0.97 EPS for the current year.

Insider Activity at QuantumScape

In other news, Director Jagdeep Singh sold 5,531 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Timothy Holme sold 44,306 shares of QuantumScape stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total value of $270,709.66. Following the transaction, the chief technology officer now owns 1,168,496 shares of the company’s stock, valued at $7,139,510.56. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 713,986 shares of company stock valued at $4,148,984. Insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after purchasing an additional 656,646 shares in the last quarter. State Street Corp raised its stake in QuantumScape by 1.5% in the 3rd quarter. State Street Corp now owns 5,918,496 shares of the company’s stock worth $34,031,000 after purchasing an additional 87,563 shares in the last quarter. Geode Capital Management LLC raised its stake in QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after purchasing an additional 218,743 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $12,806,000 after purchasing an additional 93,826 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in QuantumScape by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock worth $11,482,000 after purchasing an additional 25,347 shares in the last quarter. Institutional investors own 29.87% of the company’s stock.

About QuantumScape

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.