QuantumScape (NYSE:QS) Price Target Cut to $2.50 by Analysts at The Goldman Sachs Group

QuantumScape (NYSE:QS - Free Report) had its target price lowered by The Goldman Sachs Group from $3.00 to $2.50 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a sell rating on the stock.

Several other equities analysts have also commented on QS. Robert W. Baird reduced their target price on shares of QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Evercore ISI restated a "hold" rating on shares of QuantumScape in a report on Tuesday, February 25th. UBS Group downgraded QuantumScape from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $5.00 to $2.50 in a research report on Thursday, April 10th. Finally, Truist Financial lowered their price target on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $5.19.

QuantumScape Price Performance

QS traded up $0.07 during trading on Monday, reaching $3.99. The stock had a trading volume of 10,807,661 shares, compared to its average volume of 10,764,858. The business has a 50-day moving average of $4.15 and a 200-day moving average of $4.86. QuantumScape has a one year low of $3.40 and a one year high of $9.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The stock has a market cap of $2.18 billion, a PE ratio of -4.24 and a beta of 4.37.

QuantumScape (NYSE:QS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). During the same quarter in the previous year, the company posted ($0.24) earnings per share. As a group, equities research analysts anticipate that QuantumScape will post -0.82 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, insider Michael O. Mccarthy III sold 76,315 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $5.23, for a total transaction of $399,127.45. Following the completion of the transaction, the insider now owns 1,010,523 shares of the company's stock, valued at $5,285,035.29. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.22, for a total value of $67,379.76. Following the completion of the sale, the director now directly owns 228,287 shares in the company, valued at $1,191,658.14. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,198 shares of company stock worth $748,796 over the last ninety days. 12.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ieq Capital LLC lifted its holdings in shares of QuantumScape by 2.6% during the fourth quarter. Ieq Capital LLC now owns 87,370 shares of the company's stock valued at $453,000 after purchasing an additional 2,200 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of QuantumScape by 2.0% during the fourth quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company's stock valued at $595,000 after purchasing an additional 2,300 shares during the last quarter. Xponance Inc. boosted its holdings in QuantumScape by 17.8% in the fourth quarter. Xponance Inc. now owns 15,862 shares of the company's stock worth $82,000 after purchasing an additional 2,400 shares during the last quarter. Arizona State Retirement System raised its stake in QuantumScape by 2.3% during the 4th quarter. Arizona State Retirement System now owns 111,364 shares of the company's stock valued at $578,000 after buying an additional 2,483 shares during the last quarter. Finally, Birchcreek Wealth Management LLC boosted its stake in shares of QuantumScape by 13.6% in the 4th quarter. Birchcreek Wealth Management LLC now owns 22,583 shares of the company's stock worth $117,000 after buying an additional 2,700 shares during the last quarter. Institutional investors own 29.87% of the company's stock.

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.