UBS Group Trims QuantumScape (NYSE:QS) Target Price to $5.00

QuantumScape (NYSE:QS) had its price target trimmed by UBS Group from $9.00 to $5.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms also recently weighed in on QS. Truist Financial dropped their target price on shares of QuantumScape from $8.00 to $6.00 and set a hold rating on the stock in a research report on Monday, April 22nd. Robert W. Baird raised their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the stock a neutral rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $6.30.

QuantumScape Price Performance

QS opened at $5.39 on Thursday. The business has a fifty day simple moving average of $5.93 and a 200-day simple moving average of $6.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.98 and a quick ratio of 18.98. QuantumScape has a fifty-two week low of $4.92 and a fifty-two week high of $13.86.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same quarter last year, the business posted ($0.25) earnings per share. On average, equities analysts predict that QuantumScape will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In other QuantumScape news, insider Michael O. Mccarthy III sold 21,840 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now owns 731,629 shares in the company, valued at approximately $4,514,150.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Jeffrey B. Straubel sold 69,309 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at approximately $1,966,567.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares in the company, valued at $4,514,150.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 194,970 shares of company stock worth $1,250,775. 10.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Spire Wealth Management raised its position in shares of QuantumScape by 39.0% in the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the period. International Assets Investment Management LLC grew its stake in QuantumScape by 595.1% in the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock valued at $43,000 after buying an additional 5,296 shares during the last quarter. C M Bidwell & Associates Ltd. raised its holdings in QuantumScape by 37.3% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after acquiring an additional 1,835 shares during the period. CWM LLC lifted its position in QuantumScape by 31.1% during the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after acquiring an additional 1,794 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in QuantumScape by 57.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,096 shares of the company’s stock valued at $56,000 after acquiring an additional 2,954 shares during the period. 29.87% of the stock is owned by 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.