Brokerages Set QuantumScape Co. (NYSE:QS) Price Target at $5.94

Shares of QuantumScape Co. (NYSE:QS) have earned a consensus recommendation of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $6.14.

Several research firms have commented on QS. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a research note on Tuesday, September 10th. Truist Financial reiterated a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday. Finally, Wolfe Research assumed coverage on QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company.

Insider Transactions at QuantumScape

In related news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the transaction, the director now directly owns 254,103 shares in the company, valued at approximately $1,514,453.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,126,067 shares of company stock worth $6,659,475 in the last ninety days. Insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC lifted its stake in QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares in the last quarter. CWM LLC lifted its stake in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after purchasing an additional 2,556 shares in the last quarter. Mather Group LLC. acquired a new position in QuantumScape during the second quarter worth $36,000. Finally, Alaska Wealth Advisors purchased a new stake in shares of QuantumScape during the second quarter worth $49,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Price Performance

Shares of QuantumScape stock opened at $6.19 on Tuesday. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. QuantumScape has a twelve month low of $4.67 and a twelve month high of $10.03. The business has a 50-day moving average price of $5.69 and a 200 day moving average price of $5.81. The firm has a market cap of $3.09 billion, a PE ratio of -6.45 and a beta of 4.58.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period in the prior year, the firm posted ($0.23) earnings per share. Sell-side analysts predict that QuantumScape will post -0.9 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.