QuantumScape (NYSE:QS) Price Target Cut to $6.00

QuantumScape (NYSE:QS) had its price objective lowered by Truist Financial from $8.00 to $6.00 in a report released on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Separately, Robert W. Baird lifted their price target on shares of QuantumScape from $5.00 to $8.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $6.46.

QuantumScape Stock Performance

NYSE:QS opened at $5.39 on Monday. QuantumScape has a 1-year low of $4.99 and a 1-year high of $13.86. The firm has a 50 day simple moving average of $6.08 and a 200-day simple moving average of $6.44. The firm has a market cap of $2.67 billion, a PE ratio of -5.61 and a beta of 4.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.98 and a quick ratio of 18.98.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same period in the previous year, the firm posted ($0.25) earnings per share. On average, equities analysts expect that QuantumScape will post -0.87 EPS for the current year.

Insider Activity

In related news, Director Jeffrey B. Straubel sold 69,309 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total value of $465,756.48. Following the transaction, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $6.17, for a total value of $134,752.80. Following the completion of the sale, the insider now directly 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 this link. Also, Director Jeffrey B. Straubel sold 69,309 shares of the 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 transaction, the director now directly owns 292,644 shares in the company, valued at approximately $1,966,567.68. The disclosure for this sale can be found here. Insiders sold 194,970 shares of company stock worth $1,250,775 over the last ninety days. Corporate insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently made changes to their positions in the company. Spire Wealth Management lifted its position in shares of QuantumScape by 39.0% in the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares during the last quarter. Level Financial Advisors Inc. acquired a new stake in QuantumScape during the third quarter worth about $42,000. International Assets Investment Management LLC lifted its holdings in QuantumScape by 595.1% in the fourth quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after acquiring an additional 5,296 shares during the last quarter. C M Bidwell & Associates Ltd. boosted its stake in QuantumScape by 37.3% in the third quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock valued at $45,000 after acquiring an additional 1,835 shares during the period. Finally, CWM LLC raised its position in shares of QuantumScape by 31.1% during the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after purchasing an additional 1,794 shares during the period. 29.87% of the stock is owned by institutional investors and hedge funds.

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.