Analysts Set QuantumScape Co. (NYSE:QS) Target Price at $6.62

Shares of QuantumScape Co. (NYSE:QS) have received a consensus recommendation of “Reduce” from the seven ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $6.62.

Separately, Truist Financial restated a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a report on Monday, August 5th.

QuantumScape Stock Performance

Shares of QuantumScape stock opened at $5.53 on Monday. QuantumScape has a 1-year low of $4.67 and a 1-year high of $10.03. The company has a market cap of $2.76 billion, a PE ratio of -5.76 and a beta of 4.62. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $6.23 and a 200-day moving average of $5.92.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same period last year, the business earned ($0.26) earnings per share. As a group, equities research analysts forecast that QuantumScape will post -0.91 earnings per share for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total transaction of $76,931.68. Following the transaction, the director now directly owns 254,103 shares in the company, valued at approximately $1,514,453.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.96, for a total value of $76,931.68. Following the transaction, the director now owns 254,103 shares in the company, valued at approximately $1,514,453.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jagdeep Singh sold 192,270 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $5.35, for a total value of $1,028,644.50. Following the completion of the transaction, the director now directly owns 2,809,253 shares of the company’s stock, valued at $15,029,503.55. The disclosure for this sale can be found here. Insiders sold a total of 1,112,281 shares of company stock valued at $6,547,435 over the last ninety days. 10.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

Large investors have recently modified their holdings of the stock. Spire Wealth Management lifted its holdings in QuantumScape by 39.0% during 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 last quarter. CWM LLC boosted its holdings in QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the period. Mather Group LLC. bought a new position in QuantumScape in the 2nd quarter worth approximately $36,000. Alaska Wealth Advisors purchased a new position in QuantumScape in the 2nd quarter valued at approximately $49,000. Finally, StepStone Group LP bought a new stake in QuantumScape during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.