QuantumScape (NYSE:QS) Price Target Cut to $12.00 by Analysts at The Goldman Sachs Group

Posted by on Jun 1st, 2022

QuantumScape (NYSE:QS – Get Rating) had its price objective reduced by The Goldman Sachs Group from $17.00 to $12.00 in a research note issued on Wednesday, Stock Target Advisor reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 3.92% from the stock’s previous close.

A number of other analysts have also recently commented on QS. Morgan Stanley cut their price target on shares of QuantumScape from $40.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 23rd. JPMorgan Chase & Co. dropped their price objective on shares of QuantumScape from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 22nd. Sumitomo Mitsui Financial Group began coverage on shares of QuantumScape in a research report on Tuesday, March 29th. They issued a “neutral” rating and a $20.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of QuantumScape in a research report on Tuesday, April 12th. They set a “hold” rating and a $20.00 price target on the stock. Finally, Zacks Investment Research raised shares of QuantumScape from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, QuantumScape has an average rating of “Hold” and a consensus target price of $21.71.

NYSE:QS traded down $0.30 during trading hours on Wednesday, hitting $12.49. The stock had a trading volume of 98,068 shares, compared to its average volume of 8,051,576. QuantumScape has a one year low of $10.00 and a one year high of $43.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 48.57 and a current ratio of 48.57. The company has a market cap of $5.37 billion, a price-to-earnings ratio of -20.10 and a beta of 7.90. The business’s 50 day moving average is $15.61 and its 200-day moving average is $19.05.

QuantumScape (NYSE:QS – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). During the same quarter in the prior year, the business posted ($0.12) EPS. On average, sell-side analysts anticipate that QuantumScape will post -0.85 EPS for the current fiscal year.

In related news, insider Mohit Singh sold 5,360 shares of the business’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $14.52, for a total value of $77,827.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Fritz Prinz sold 155,600 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $11.04, for a total transaction of $1,717,824.00. Following the completion of the transaction, the director now directly owns 63,280 shares in the company, valued at $698,611.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,016,626 shares of company stock worth $14,724,655 over the last ninety days. Insiders own 16.22% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of QuantumScape by 4.6% during the first quarter. Vanguard Group Inc. now owns 18,122,533 shares of the company’s stock valued at $362,269,000 after purchasing an additional 802,540 shares during the period. BlackRock Inc. boosted its stake in shares of QuantumScape by 0.3% during the first quarter. BlackRock Inc. now owns 8,906,170 shares of the company’s stock valued at $178,034,000 after purchasing an additional 25,914 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of QuantumScape by 2.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,785,454 shares of the company’s stock valued at $95,661,000 after purchasing an additional 127,255 shares during the period. State Street Corp lifted its stake in QuantumScape by 5.8% in the first quarter. State Street Corp now owns 3,181,037 shares of the company’s stock worth $63,589,000 after acquiring an additional 173,426 shares during the period. Finally, Norges Bank purchased a new stake in QuantumScape in the fourth quarter worth $65,452,000. Institutional investors own 25.68% of the company’s stock.

QuantumScape Company Profile (Get Rating)

QuantumScape Corporation, a 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.

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