QuantumScape Co. (NYSE:QS) Receives $6.09 Consensus Target Price from Analysts

QuantumScape Co. (NYSE:QS) has been given an average rating of “Reduce” by the nine research firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.09.

A number of brokerages recently commented on QS. Robert W. Baird upped their target price on QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Truist Financial cut their price objective on shares of QuantumScape from $8.00 to $6.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Finally, UBS Group decreased their target price on shares of QuantumScape from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total value of $226,329.78. Following the completion of the transaction, the chief financial officer now owns 554,553 shares in the company, valued at $3,626,776.62. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the sale, the chief financial officer now directly owns 554,553 shares of the company’s stock, valued at $3,626,776.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael O. Mccarthy III sold 21,840 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,661 shares of company stock valued at $785,018. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in QuantumScape by 2.7% in the 4th 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. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after acquiring an additional 3,004,964 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of QuantumScape by 10.3% in the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after acquiring an additional 251,186 shares in the last quarter. Norges Bank acquired a new stake in shares of QuantumScape in the fourth quarter worth approximately $18,482,000. Finally, Board of Trustees of The Leland Stanford Junior University increased its position in shares of QuantumScape by 5.2% during the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock worth $18,144,000 after purchasing an additional 129,239 shares in the last quarter. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Trading Up 2.3 %

Shares of QuantumScape stock opened at $5.83 on Tuesday. The firm’s 50 day simple moving average is $5.84 and its two-hundred day simple moving average is $6.39. QuantumScape has a 12-month low of $4.92 and a 12-month high of $13.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.38 and a current ratio of 10.38.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the previous year, the business earned ($0.25) earnings per share. As a group, analysts expect that QuantumScape will post -0.9 earnings per share for the current fiscal year.

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.