Brokerages Set QuantumScape Co. (NYSE:QS) Price Target at $6.26

Shares of QuantumScape Co. (NYSE:QS) have been assigned an average rating of “Reduce” from the seven brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $6.26.

Several research analysts recently commented on the stock. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a report on Tuesday, November 19th. Truist Financial restated a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th.

Insider Buying and Selling at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the completion of the sale, the director now owns 241,195 shares of the company’s stock, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the transaction, the insider now directly owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 536,460 shares of company stock worth $2,903,619 over the last quarter. 12.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QS. Sanctuary Advisors LLC lifted its holdings in shares of QuantumScape by 28.2% during the third quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after buying an additional 35,579 shares in the last quarter. Virtu Financial LLC bought a new position in QuantumScape during the third quarter worth about $235,000. Barclays PLC raised its stake in QuantumScape by 326.5% in the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock worth $599,000 after purchasing an additional 79,871 shares in the last quarter. Geode Capital Management LLC boosted its holdings in QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares during the period. Finally, M&T Bank Corp grew its position in shares of QuantumScape by 139.2% during the 3rd quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock worth $265,000 after purchasing an additional 26,820 shares in the last quarter. 29.87% of the stock is owned by institutional investors.

QuantumScape Stock Down 9.1 %

QS stock opened at $5.72 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The stock has a market capitalization of $2.93 billion, a P/E ratio of -6.02 and a beta of 4.46. QuantumScape has a fifty-two week low of $4.65 and a fifty-two week high of $9.66. The business has a 50-day moving average of $5.22 and a 200-day moving average of $5.68.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the previous year, the business earned ($0.23) earnings per share. On average, sell-side analysts anticipate that QuantumScape will post -0.99 earnings per share for the current fiscal year.

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.