Robert W. Baird Forecasts Strong Price Appreciation for QuantumScape (NYSE:QS) Stock

QuantumScape (NYSE:QS - Free Report) had its price target hoisted by Robert W. Baird from $6.00 to $11.00 in a research note issued to investors on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. UBS Group downgraded QuantumScape from a "neutral" rating to a "sell" rating and lowered their target price for the company from $5.00 to $2.50 in a research note on Thursday, April 10th. The Goldman Sachs Group cut their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating on the stock in a research report on Monday, April 28th. Finally, TD Cowen raised shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $5.90.

QuantumScape Stock Performance

Shares of QS traded down $0.22 during mid-day trading on Thursday, reaching $12.61. 65,411,295 shares of the company's stock traded hands, compared to its average volume of 74,005,776. QuantumScape has a 12 month low of $3.40 and a 12 month high of $15.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.66 and a current ratio of 16.66. The stock has a market capitalization of $7.05 billion, a P/E ratio of -14.66 and a beta of 4.42. The business's 50-day moving average price is $6.51 and its 200-day moving average price is $5.22.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) EPS for the quarter, hitting analysts' consensus estimates of ($0.20). The company had revenue of $36.67 million for the quarter. During the same quarter last year, the business earned ($0.25) EPS. Equities analysts predict that QuantumScape will post -0.82 earnings per share for the current year.

Insider Activity

In other news, CTO Timothy Holme sold 11,906 shares of QuantumScape stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $7.02, for a total transaction of $83,580.12. Following the sale, the chief technology officer owned 1,661,928 shares of the company's stock, valued at approximately $11,666,734.56. This trade represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mohit Singh sold 465,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $8.21, for a total transaction of $3,817,650.00. Following the completion of the transaction, the insider owned 1,641,711 shares of the company's stock, valued at approximately $13,478,447.31. This represents a 22.07% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,589,468 shares of company stock valued at $18,114,411. 12.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC bought a new position in shares of QuantumScape in the fourth quarter valued at about $26,000. Raiffeisen Bank International AG bought a new position in shares of QuantumScape in the fourth quarter worth about $29,000. Signaturefd LLC raised its stake in shares of QuantumScape by 2,086.1% in the first quarter. Signaturefd LLC now owns 6,121 shares of the company's stock worth $25,000 after acquiring an additional 5,841 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of QuantumScape by 660.0% during the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company's stock worth $26,000 after purchasing an additional 5,438 shares in the last quarter. Finally, Hollencrest Capital Management grew its stake in shares of QuantumScape by 333.3% during the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company's stock valued at $27,000 after purchasing an additional 5,000 shares during the last quarter. 29.87% of the stock is owned by institutional investors.

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.