QuantumScape (NYSE:QS) Rating Increased to Hold at HSBC

HSBC upgraded shares of QuantumScape (NYSE:QS) from a reduce rating to a hold rating in a research report sent to investors on Tuesday, MarketBeat reports. HSBC currently has $5.30 price objective on the stock.

Several other research firms also recently weighed in on QS. Wolfe Research assumed coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Truist Financial reaffirmed a “hold” rating and issued a $7.00 price target (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.26.

QuantumScape Price Performance

Shares of NYSE QS opened at $4.95 on Tuesday. QuantumScape has a twelve month low of $4.65 and a twelve month high of $10.03. The firm has a fifty day simple moving average of $5.46 and a 200 day simple moving average of $5.75. The company has a market capitalization of $2.53 billion, a PE ratio of -5.21 and a beta of 4.60. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the previous year, the company earned ($0.23) EPS. On average, sell-side analysts forecast that QuantumScape will post -0.97 EPS for the current year.

Insider Activity

In other news, insider Michael O. Mccarthy III sold 106,084 shares of QuantumScape stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $5.90, for a total transaction of $625,895.60. Following the completion of the transaction, the insider now directly owns 1,181,884 shares in the company, valued at $6,973,115.60. This trade represents a 8.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin Hettrich sold 58,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total transaction of $335,240.00. Following the transaction, the chief financial officer now owns 1,073,022 shares in the company, valued at approximately $6,202,067.16. This trade represents a 5.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 606,197 shares of company stock worth $3,498,399 over the last three months. 12.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC boosted its holdings in QuantumScape by 2.7% during the second quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock worth $392,000 after purchasing an additional 2,059 shares during the last quarter. Signaturefd LLC boosted its holdings 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 during the last quarter. CWM LLC boosted its holdings 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 during the last quarter. Farther Finance Advisors LLC boosted its holdings in QuantumScape by 32.4% during the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after purchasing an additional 3,310 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in QuantumScape by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after purchasing an additional 3,527 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.