QuantumScape (NYSE:QS) Price Target Cut to $6.00 by Analysts at Truist Financial

QuantumScape (NYSE:QS - Free Report) had its target price trimmed by Truist Financial from $8.00 to $6.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a hold rating on the stock.

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

QuantumScape Stock Performance

Shares of NYSE QS traded up $0.02 during mid-day trading on Monday, hitting $5.39. The stock had a trading volume of 7,469,315 shares, compared to its average volume of 9,443,603. The company has a 50 day moving average of $6.08 and a two-hundred day 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 quick ratio of 18.98 and a current ratio of 18.98. QuantumScape has a twelve month low of $4.99 and a twelve month high of $13.86.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly 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 prior year, the business earned ($0.25) earnings per share. Research analysts predict that QuantumScape will post -0.87 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the sale, the chief financial officer now directly owns 1,178,512 shares of the company's stock, valued at approximately $7,236,063.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the sale, the chief financial officer now directly owns 1,178,512 shares of the company's stock, valued at approximately $7,236,063.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey B. Straubel sold 69,309 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $6.72, for a total transaction of $465,756.48. Following the sale, the director now directly owns 292,644 shares in the company, valued at $1,966,567.68. The disclosure for this sale can be found here. Insiders have sold a total of 194,970 shares of company stock valued at $1,250,775 in the last ninety days. 10.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in QuantumScape by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 29,828,269 shares of the company's stock valued at $207,306,000 after buying an additional 796,723 shares in the last quarter. Norges Bank purchased a new position in QuantumScape in the 4th quarter valued at about $18,482,000. Board of Trustees of The Leland Stanford Junior University lifted its stake in QuantumScape by 5.2% in the 4th quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company's stock valued at $18,144,000 after buying an additional 129,239 shares in the last quarter. Baillie Gifford & Co. lifted its stake in QuantumScape by 53.6% in the 3rd quarter. Baillie Gifford & Co. now owns 2,581,225 shares of the company's stock valued at $17,268,000 after buying an additional 900,249 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in QuantumScape by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,975,157 shares of the company's stock worth $13,727,000 after purchasing an additional 81,941 shares in the last quarter. 29.87% of the stock is owned by hedge funds and other institutional investors.

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.