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

QuantumScape (NYSE:QS) had its price objective decreased by Truist Financial from $7.00 to $6.00 in a report released on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

QS has been the subject of several other reports. Wolfe Research assumed coverage on QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.94.

QuantumScape Stock Up 0.5 %

Shares of QuantumScape stock opened at $5.52 on Wednesday. QuantumScape has a 52-week low of $4.67 and a 52-week high of $10.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66. The business’s 50 day simple moving average is $5.71 and its 200 day simple moving average is $5.83. The firm has a market cap of $2.75 billion, a PE ratio of -5.74 and a beta of 4.58.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same period last year, the business posted ($0.26) EPS. On average, analysts predict that QuantumScape will post -0.9 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other news, insider Michael O. Mccarthy III sold 222,476 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 1,283,847 shares in the company, valued at approximately $8,447,713.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QuantumScape news, insider Michael O. Mccarthy III sold 222,476 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $6.58, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Timothy Holme sold 44,306 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $6.11, for a total transaction of $270,709.66. Following the transaction, the chief technology officer now directly owns 1,168,496 shares in the company, valued at $7,139,510.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,126,067 shares of company stock worth $6,659,475. Insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new stake in shares of QuantumScape during the 2nd quarter worth approximately $1,950,000. Sanctuary Advisors LLC bought a new position in shares of QuantumScape in the 2nd quarter valued at $680,000. HighPoint Advisor Group LLC acquired a new position in shares of QuantumScape during the 4th quarter worth $97,000. Vanguard Group Inc. boosted its stake in QuantumScape by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company’s stock valued at $207,306,000 after buying an additional 796,723 shares in the last quarter. Finally, Swiss National Bank raised its stake in QuantumScape by 9.3% during the first quarter. Swiss National Bank now owns 678,800 shares of the company’s stock worth $4,270,000 after acquiring an additional 58,000 shares in the last quarter. Institutional investors and hedge funds 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.