QuantumScape (NYSE:QS - Free Report) had its target price upped by Robert W. Baird from $6.00 to $11.00 in a research report released on Thursday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.
A number of other research analysts have also weighed in on the stock. TD Cowen raised shares of QuantumScape to a "hold" rating in a research report on Monday, July 7th. UBS Group downgraded shares of QuantumScape from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $5.00 to $2.50 in a report on Thursday, April 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of QuantumScape from $3.00 to $2.50 and set a "sell" rating for the company in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $5.90.
Check Out Our Latest Analysis on QS
QuantumScape Stock Down 5.5%
Shares of QS traded down $0.70 during trading hours on Thursday, reaching $11.94. 57,572,051 shares of the stock traded hands, compared to its average volume of 67,467,776. The company has a current ratio of 16.66, a quick ratio of 16.66 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $6.66 and a 200 day simple moving average of $5.26. QuantumScape has a 52 week low of $3.40 and a 52 week high of $15.03. The company has a market cap of $6.67 billion, a price-to-earnings ratio of -13.88 and a beta of 4.42.
QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.20). The firm had revenue of $36.67 million for the quarter. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. On average, equities analysts forecast that QuantumScape will post -0.82 EPS for the current year.
Insider Transactions at QuantumScape
In other news, CTO Timothy Holme sold 358,330 shares of QuantumScape stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $7.03, for a total value of $2,519,059.90. Following the completion of the transaction, the chief technology officer owned 1,705,428 shares in the company, valued at $11,989,158.84. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mohit Singh sold 465,000 shares of QuantumScape stock in a transaction dated Tuesday, July 8th. The stock was 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 $13,478,447.31. The trade was a 22.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,589,468 shares of company stock worth $29,734,411 over the last quarter. Corporate insiders own 12.03% of the company's stock.
Hedge Funds Weigh In On QuantumScape
Several hedge funds have recently bought and sold shares of the company. M&T Bank Corp lifted its holdings in shares of QuantumScape by 97.2% in the 1st quarter. M&T Bank Corp now owns 39,964 shares of the company's stock worth $166,000 after acquiring an additional 19,694 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of QuantumScape by 362.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 379,018 shares of the company's stock worth $1,577,000 after acquiring an additional 297,097 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of QuantumScape in the 4th quarter worth approximately $1,527,000. Vanguard Group Inc. lifted its holdings in shares of QuantumScape by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 32,440,612 shares of the company's stock worth $168,367,000 after acquiring an additional 956,072 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of QuantumScape by 1,091.5% in the 4th quarter. American Century Companies Inc. now owns 432,455 shares of the company's stock worth $2,244,000 after acquiring an additional 396,160 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company's stock.
About QuantumScape
(
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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.
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