QuantumScape (NYSE:QS) Upgraded at Hsbc Global Res

Key Points

• HSBC moved to a more negative stance on QuantumScape, cutting its rating to a "reduce" (described as "moderate sell") while raising its price target to $10.50.
• Company insiders have been heavy sellers recently — directors Jeffrey Straubel and Brad Buss disclosed large sales, and insiders sold a total of 3,268,448 shares worth about $47.47M over the last quarter, leaving insiders with 5.48% ownership.
• QuantumScape trades around $11.69 (1-year range $3.40–$19.07) with a market cap of about $7.03B; analysts’ consensus is an average rating of "Reduce" and an average price target of $8.31.

QuantumScape (NYSE:QS - Get Free Report) was upgraded by analysts at Hsbc Global Res to a "moderate sell" rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird upped their price target on shares of QuantumScape from $6.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. TD Cowen increased their target price on shares of QuantumScape from $5.00 to $16.00 and gave the company a "hold" rating in a research note on Thursday, October 30th. Weiss Ratings restated a "sell (d-)" rating on shares of QuantumScape in a report on Wednesday, October 8th. Cowen reaffirmed a "hold" rating on shares of QuantumScape in a report on Thursday, October 30th. Finally, HSBC downgraded QuantumScape from a "hold" rating to a "reduce" rating and increased their price objective for the company from $5.30 to $10.50 in a research report on Wednesday. Six equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $8.31.

QuantumScape Stock Performance

Shares of NYSE QS opened at $11.69 on Wednesday. QuantumScape has a 1 year low of $3.40 and a 1 year high of $19.07. The firm has a market cap of $7.03 billion, a P/E ratio of -14.44 and a beta of 4.83. The stock has a fifty day moving average price of $14.45 and a two-hundred day moving average price of $9.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 21.14 and a current ratio of 21.14.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). During the same period last year, the business posted ($0.23) earnings per share. Research analysts forecast that QuantumScape will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, Director Jeffrey B. Straubel sold 157,171 shares of the firm's stock in a transaction dated 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 completion of the sale, the director directly owned 293,934 shares in the company, valued at approximately $4,976,302.62. This trade represents a 34.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brad W. Buss sold 300,000 shares of QuantumScape stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $17.98, for a total value of $5,394,000.00. Following the transaction, the director directly owned 122,476 shares in the company, valued at approximately $2,202,118.48. This trade represents a 71.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,268,448 shares of company stock valued at $47,474,558 over the last quarter. 5.48% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in QuantumScape by 456.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,759,334 shares of the company's stock valued at $19,799,000 after purchasing an additional 3,904,168 shares in the last quarter. Man Group plc acquired a new stake in shares of QuantumScape during the 3rd quarter valued at $44,421,000. Vanguard Group Inc. grew its holdings in shares of QuantumScape by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 35,351,974 shares of the company's stock valued at $147,064,000 after acquiring an additional 2,911,362 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of QuantumScape in the third quarter worth $33,962,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of QuantumScape by 2,036.7% during the second quarter. BNP Paribas Financial Markets now owns 2,452,835 shares of the company's stock worth $16,483,000 after acquiring an additional 2,338,038 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.

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