QuantumScape’s (QS) Hold Rating Reiterated at Truist Financial

QuantumScape (NYSE:QS)‘s stock had its “hold” rating restated by Truist Financial in a note issued to investors on Friday, Benzinga reports. They presently have a $7.00 price objective on the stock, up from their prior price objective of $6.00. Truist Financial’s price target points to a potential upside of 13.09% from the company’s current price.

Several other brokerages also recently weighed in on QS. Wolfe Research started coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.14.

QuantumScape Trading Down 4.8 %

Shares of NYSE QS opened at $6.19 on Friday. QuantumScape has a 1-year low of $4.67 and a 1-year high of $10.03. The business has a fifty day moving average price of $5.69 and a 200 day moving average price of $5.81. The stock has a market capitalization of $3.09 billion, a P/E ratio of -6.45 and a beta of 4.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66.

QuantumScape (NYSE:QS) last released its quarterly earnings results 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 quarter last year, the firm earned ($0.23) EPS. Equities research analysts expect that QuantumScape will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $5,890,890.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Michael O. Mccarthy III sold 222,476 shares of QuantumScape stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the completion of the sale, the insider now owns 1,283,847 shares of the company’s stock, valued at $8,447,713.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total transaction 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 approximately $5,890,890.78. This trade represents 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 three months. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC lifted its holdings in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares during the period. International Assets Investment Management LLC boosted its position in QuantumScape by 475.1% in the 3rd 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 grew 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 worth $35,000 after purchasing an additional 2,556 shares during the period. Mather Group LLC. purchased a new position in shares of QuantumScape during the 2nd quarter valued at approximately $36,000. Finally, Alaska Wealth Advisors acquired a new position in shares of QuantumScape in the 2nd quarter valued at $49,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.