QuantumScape (NYSE:QS) PT Lowered to $6.00

QuantumScape (NYSE:QS) had its price objective reduced by Truist Financial from $7.00 to $6.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 12.46% from the company’s current price.

QS has been the subject of a number of other research reports. Wolfe Research started coverage on QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.94.

QuantumScape Stock Down 3.2 %

Shares of NYSE QS opened at $5.34 on Wednesday. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.67 billion, a PE ratio of -5.56 and a beta of 4.58. The stock’s fifty day simple moving average is $5.70 and its two-hundred day simple moving average is $5.83. QuantumScape has a 12-month low of $4.67 and a 12-month high of $10.03.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter last year, the company earned ($0.26) earnings per share. As a group, analysts expect that QuantumScape will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at $5,890,890.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at $5,890,890.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $5.53, for a total value of $1,063,253.10. Following the transaction, the director now owns 2,590,583 shares of the company’s stock, valued at $14,325,923.99. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,126,067 shares of company stock worth $6,659,475 in the last 90 days. Insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Institutional investors have recently modified their holdings of the stock. CWM LLC raised its stake in shares of QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after buying an additional 2,556 shares during the last quarter. Mather Group LLC. purchased a new position in shares of QuantumScape in the 2nd quarter valued at about $36,000. Alaska Wealth Advisors purchased a new position in shares of QuantumScape in the 2nd quarter valued at about $49,000. Evergreen Wealth Solutions LLC purchased a new position in shares of QuantumScape in the 1st quarter valued at about $64,000. Finally, SpiderRock Advisors LLC purchased a new position in shares of QuantumScape in the 1st quarter valued at about $66,000. Hedge funds and other 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.