QuantumScape Corporation (NYSE:QS) Stock Has Average Target Price of $7.36

Key Points

• Analysts maintain a cautious outlook: All six analysts covering QuantumScape rate the stock “Hold,” with an average 12-month price target of $7.36. Recent brokerages lowered targets to between $4.50 and $6.00.
• QuantumScape shares remain under pressure: The stock opened at $4.06, near its 52-week low of $3.80 and well below its 52-week high of $18.56. The company reported a quarterly loss of $0.14 per share, though it beat analysts’ estimate of a $0.17 loss.
• Insiders have been selling while institutions add positions: Company insiders sold 294,599 shares worth approximately $1.47 million in the last quarter, while several institutional investors increased their holdings. Institutional investors collectively own 29.87% of the stock.

QuantumScape Corporation (NYSE:QS - Get Free Report) has been given an average rating of "Hold" by the six analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $7.36.

A number of brokerages recently weighed in on QS. Morgan Stanley dropped their price target on QuantumScape from $8.50 to $4.50 and set an "equal weight" rating on the stock in a research note on Thursday, October 15th. Robert W. Baird cut their price objective on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, October 22nd. William Blair raised shares of QuantumScape to a "hold" rating in a research note on Thursday, October 22nd. Finally, TD Cowen decreased their target price on shares of QuantumScape from $8.00 to $6.00 and set a "hold" rating for the company in a report on Friday, July 24th.

Insider Activity

In related news, CTO Timothy Holme sold 45,000 shares of the company's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $4.54, for a total value of $204,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 294,599 shares of company stock worth $1,473,271 in the last quarter. 3.93% of the stock is owned by insiders.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of QuantumScape by 134.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,035 shares of the company's stock valued at $36,570,000 after purchasing an additional 3,290,942 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of QuantumScape in the second quarter worth approximately $9,619,000. AXQ Capital LP lifted its position in shares of QuantumScape by 313.2% in the second quarter. AXQ Capital LP now owns 463,653 shares of the company's stock worth $3,505,000 after purchasing an additional 351,451 shares in the last quarter. William John Sempolinski purchased a new stake in shares of QuantumScape in the second quarter worth approximately $1,527,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of QuantumScape by 145.5% during the second quarter. Handelsbanken Fonder AB now owns 308,800 shares of the company's stock worth $2,335,000 after purchasing an additional 183,000 shares during the period. Institutional investors and hedge funds own 29.87% of the company's stock.

QuantumScape Stock Performance

QS opened at $4.06 on Friday. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2.51 billion, a PE ratio of -5.01 and a beta of 2.83. The business has a fifty day simple moving average of $4.82 and a 200-day simple moving average of $6.69. QuantumScape has a fifty-two week low of $3.80 and a fifty-two week high of $18.56.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, October 21st. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.03. During the same period last year, the business earned ($0.18) EPS. The firm's revenue was up .0% compared to the same quarter last year. As a group, equities analysts predict that QuantumScape will post -0.82 EPS for the current fiscal year.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage battery technology company focused on solid-state lithium-metal batteries. Its technology is designed to replace the liquid or gel electrolytes used in conventional lithium-ion batteries with a solid-state separator, with the goal of improving energy density, charging performance, safety and operating range for electric vehicles.

The company is developing prototype battery cells and related manufacturing processes for automotive applications.

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