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

QuantumScape (NYSE:QS) had its price target reduced by Truist Financial from $8.00 to $6.00 in a research report released on Monday, Benzinga reports. They currently have a hold rating on the stock.

Separately, Robert W. Baird raised their target price 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, QuantumScape presently has an average rating of Hold and a consensus target price of $6.46.

QuantumScape Trading Down 2.0 %

QS opened at $5.48 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.98 and a quick ratio of 18.98. The company’s 50 day simple moving average is $6.00 and its two-hundred day simple moving average is $6.43. QuantumScape has a 1-year low of $4.99 and a 1-year high of $13.86. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of -5.71 and a beta of 4.76.

QuantumScape (NYSE:QS) last released its 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 period last year, the firm earned ($0.25) EPS. Analysts expect that QuantumScape will post -0.87 EPS for the current fiscal year.

Insider Activity

In other QuantumScape news, insider Michael O. Mccarthy III sold 21,840 shares of the business’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 sale, the insider now owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QuantumScape news, Director Jeffrey B. Straubel sold 69,309 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the sale, the director now owns 292,644 shares of the company’s stock, valued at $1,966,567.68. 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 business’s 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 completion of the transaction, the insider now owns 731,629 shares of the company’s stock, valued at approximately $4,514,150.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,970 shares of company stock valued at $1,250,775. 10.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuantumScape

Several institutional investors have recently modified their holdings of QS. New York State Common Retirement Fund grew its stake in shares of QuantumScape by 0.6% during the fourth quarter. New York State Common Retirement Fund now owns 235,700 shares of the company’s stock worth $1,638,000 after purchasing an additional 1,481 shares in the last quarter. Spire Wealth Management grew its stake in shares of QuantumScape by 39.0% during the fourth quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. Xponance Inc. grew its stake in shares of QuantumScape by 15.8% during the fourth quarter. Xponance Inc. now owns 12,050 shares of the company’s stock worth $84,000 after purchasing an additional 1,640 shares in the last quarter. CWM LLC grew its stake in shares of QuantumScape by 31.1% during the third quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after purchasing an additional 1,794 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. grew its stake in shares of QuantumScape by 37.3% during the third quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after purchasing an additional 1,835 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.