Brokerages Set QuantumScape Co. (NYSE:QS) Target Price at $6.26

Shares of QuantumScape Co. (NYSE:QS) have earned an average rating of “Reduce” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $6.26.

QS has been the subject of a number of research analyst reports. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research note on Tuesday, November 19th. Finally, Truist Financial reiterated a “hold” rating and set a $7.00 target price (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th.

Insider Transactions at QuantumScape

In other QuantumScape news, Director Jagdeep Singh sold 308,097 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.30, for a total value of $1,632,914.10. Following the completion of the transaction, the director now directly owns 2,563,767 shares in the company, valued at approximately $13,587,965.10. The trade was a 10.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Hettrich sold 36,949 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $5.06, for a total value of $186,961.94. Following the sale, the chief financial officer now owns 1,024,325 shares in the company, valued at $5,183,084.50. This trade represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 573,409 shares of company stock valued at $3,090,581 over the last three months. 12.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

Several large investors have recently added to or reduced their stakes in QS. Mercer Global Advisors Inc. ADV acquired a new position in shares of QuantumScape during the 2nd quarter valued at about $68,000. Hsbc Holdings PLC grew its holdings in QuantumScape by 36.0% in the second quarter. Hsbc Holdings PLC now owns 16,737 shares of the company’s stock valued at $82,000 after purchasing an additional 4,433 shares during the period. Sei Investments Co. increased its position in QuantumScape by 80.8% during the second quarter. Sei Investments Co. now owns 20,533 shares of the company’s stock worth $101,000 after purchasing an additional 9,176 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake 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 period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of QuantumScape in the 2nd quarter valued at $644,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Stock Performance

Shares of QS opened at $5.00 on Thursday. The company has a market capitalization of $2.56 billion, a PE ratio of -5.26 and a beta of 4.45. QuantumScape has a 52-week low of $4.65 and a 52-week high of $9.52. The company has a 50-day simple moving average of $5.28 and a 200-day simple moving average of $5.54. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

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.