QuantumScape (NYSE:QS) Coverage Initiated at Morgan Stanley

Analysts at Morgan Stanley started coverage on shares of QuantumScape (NYSE:QS) in a report released on Monday,Benzinga reports. The brokerage set an “equal weight” rating and a $12.00 price target on the stock. Morgan Stanley’s price target points to a potential downside of 5.87% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. TD Cowen upped their price objective on shares of QuantumScape from $5.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, October 30th. Evercore ISI reaffirmed an “in-line” rating and set a $12.00 price target (up previously from $8.00) on shares of QuantumScape in a report on Monday, November 24th. Cowen reissued a “hold” rating on shares of QuantumScape in a research note on Thursday, October 30th. HSBC cut QuantumScape from a “hold” rating to a “reduce” rating and upped their target price for the stock from $5.30 to $10.50 in a research note on Wednesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft set a $10.00 price target on QuantumScape and gave the company a “hold” rating in a research note on Thursday, October 23rd. Seven research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $9.17.

QuantumScape Trading Up 1.2%

Shares of QS stock opened at $12.75 on Monday. The stock has a market cap of $7.67 billion, a P/E ratio of -15.74 and a beta of 2.76. QuantumScape has a 1 year low of $3.40 and a 1 year high of $19.07. The company has a current ratio of 21.14, a quick ratio of 21.14 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $14.52 and a 200 day simple moving average of $10.46.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). During the same period in the prior year, the business posted ($0.23) EPS. On average, research analysts predict that QuantumScape will post -0.82 earnings per share for the current fiscal year.

Insider Activity at QuantumScape

In other news, Director Brad W. Buss sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $17.98, for a total value of $5,394,000.00. Following the completion of the transaction, the director owned 122,476 shares of the company’s stock, valued at $2,202,118.48. This represents a 71.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey B. Straubel sold 157,171 shares of QuantumScape stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $16.93, for a total transaction of $2,660,905.03. Following the sale, the director owned 293,934 shares in the company, valued at approximately $4,976,302.62. This represents a 34.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,321,506 shares of company stock valued at $49,253,699. Corporate insiders own 5.48% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several institutional investors have recently made changes to their positions in the stock. Swiss Life Asset Management Ltd grew its stake in shares of QuantumScape by 72.6% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 18,870 shares of the company’s stock valued at $232,000 after buying an additional 7,940 shares during the period. Centaurus Financial Inc. bought a new position in QuantumScape in the third quarter worth approximately $129,000. Coldstream Capital Management Inc. grew its stake in QuantumScape by 8.2% in the third quarter. Coldstream Capital Management Inc. now owns 12,408 shares of the company’s stock valued at $153,000 after acquiring an additional 939 shares during the period. Advisory Services Network LLC bought a new stake in shares of QuantumScape during the third quarter valued at approximately $809,000. Finally, Kestra Private Wealth Services LLC raised its position in shares of QuantumScape by 121.4% during the third quarter. Kestra Private Wealth Services LLC now owns 68,706 shares of the company’s stock worth $846,000 after purchasing an additional 37,668 shares during the period. Institutional investors and hedge funds 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.