Analysts Set QuantumScape Corporation (NYSE:QS) PT at $5.88

QuantumScape Corporation (NYSE:QS) has been given an average rating of “Reduce” by the eight brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.8833.

QS has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. TD Cowen upgraded QuantumScape to a “hold” rating in a research report on Monday, July 7th.

Insider Activity at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 500,000 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the transaction, the insider owned 1,467,183 shares of the company’s stock, valued at approximately $17,019,322.80. This trade represents a 25.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey B. Straubel sold 157,180 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $9.20, for a total transaction of $1,446,056.00. Following the sale, the director owned 348,146 shares in the company, valued at $3,202,943.20. This trade represents a 31.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,406,051 shares of company stock valued at $38,768,188. 5.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Arthedge Capital Management LLC raised its holdings in QuantumScape by 17.3% during the second quarter. Arthedge Capital Management LLC now owns 848,000 shares of the company’s stock worth $5,699,000 after purchasing an additional 125,000 shares in the last quarter. Marex Group plc acquired a new position in shares of QuantumScape during the 2nd quarter valued at $76,000. FORA Capital LLC bought a new stake in shares of QuantumScape in the 2nd quarter worth $240,000. Headlands Technologies LLC bought a new stake in shares of QuantumScape in the 2nd quarter worth $782,000. Finally, Captrust Financial Advisors lifted its holdings in shares of QuantumScape by 49.6% in the second quarter. Captrust Financial Advisors now owns 51,237 shares of the company’s stock valued at $344,000 after buying an additional 16,981 shares during the period. Institutional investors and hedge funds own 29.87% of the company’s stock.

QuantumScape Price Performance

Shares of NYSE QS opened at $10.16 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.40 and a quick ratio of 16.40. The firm has a market capitalization of $5.75 billion, a PE ratio of -11.81 and a beta of 4.42. QuantumScape has a 1-year low of $3.40 and a 1-year high of $15.03. The business’s fifty day moving average price is $9.43 and its two-hundred day moving average price is $6.17.

QuantumScape (NYSE:QS) last released its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The firm had revenue of $36.67 million for the quarter. During the same period in the prior year, the company earned ($0.25) EPS. On average, research analysts expect that QuantumScape will post -0.82 EPS for the current year.

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.