QuantumScape (NYSE:QS) Price Target Lowered to $6.00 at Truist Financial

QuantumScape (NYSE:QS) had its price target cut by Truist Financial from $7.00 to $6.00 in a research report released on Friday,Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also issued reports on the company. Hsbc Global Res raised QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus target price of $6.06.

QuantumScape Price Performance

Shares of QS opened at $5.26 on Friday. QuantumScape has a 1-year low of $4.65 and a 1-year high of $9.52. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm’s 50 day simple moving average is $5.27 and its 200 day simple moving average is $5.44.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). On average, equities research analysts anticipate that QuantumScape will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated Thursday, November 21st. The shares were 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 directly owns 241,195 shares in the company, valued at approximately $1,215,622.80. This represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 55,647 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.05, for a total value of $281,017.35. Following the transaction, the chief financial officer now owns 1,022,743 shares in the company, valued at approximately $5,164,852.15. This represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 567,878 shares of company stock worth $3,062,871. 12.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently made changes to their positions in QS. Nisa Investment Advisors LLC grew its holdings in shares of QuantumScape by 6,650.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after acquiring an additional 133,000 shares during the period. Geode Capital Management LLC grew its stake in QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after purchasing an additional 218,743 shares during the period. Weiss Asset Management LP bought a new position in QuantumScape in the third quarter worth $828,000. SG Americas Securities LLC lifted its position in QuantumScape by 127.0% during the fourth quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock valued at $1,062,000 after buying an additional 114,504 shares during the period. Finally, Barclays PLC boosted its holdings in shares of QuantumScape by 326.5% during the 3rd quarter. Barclays PLC now owns 104,333 shares of the company’s stock valued at $599,000 after buying an additional 79,871 shares in the last quarter. 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.