The Goldman Sachs Group Cuts QuantumScape (NYSE:QS) Price Target to $2.50

QuantumScape (NYSE:QS - Get Free Report) had its target price reduced by investment analysts at The Goldman Sachs Group from $3.00 to $2.50 in a report released on Monday,Benzinga reports. The brokerage presently has a "sell" rating on the stock. The Goldman Sachs Group's target price would indicate a potential downside of 36.79% from the stock's current price.

Several other equities analysts have also commented on the stock. UBS Group lowered shares of QuantumScape from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $5.00 to $2.50 in a research report on Thursday, April 10th. Evercore ISI restated a "hold" rating on shares of QuantumScape in a research note on Tuesday, February 25th. Robert W. Baird lowered their target price on QuantumScape from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Truist Financial decreased their target price 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 equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, QuantumScape has a consensus rating of "Hold" and a consensus target price of $5.19.

QuantumScape Stock Up 0.4 %

Shares of QuantumScape stock traded up $0.02 during trading on Monday, reaching $3.96. The company's stock had a trading volume of 7,433,406 shares, compared to its average volume of 10,709,860. The company has a 50-day simple moving average of $4.26 and a two-hundred day simple moving average of $4.90. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -4.21 and a beta of 4.37. QuantumScape has a 1-year low of $3.40 and a 1-year high of $9.52. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS - Get Free Report) last released its quarterly earnings results 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 firm earned ($0.24) EPS. As a group, equities analysts forecast that QuantumScape will post -0.82 earnings per share for the current year.

Insider Activity at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 53,975 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $282,289.25. Following the sale, the chief financial officer now directly owns 930,800 shares in the company, valued at approximately $4,868,084. This trade represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the stock in a transaction dated 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 owns 228,287 shares of the company's stock, 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 three months. Company insiders own 12.03% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Heck Capital Advisors LLC bought a new stake in shares of QuantumScape in the 4th quarter valued at about $26,000. Raiffeisen Bank International AG bought a new stake in QuantumScape in the fourth quarter worth approximately $29,000. Blue Trust Inc. raised its holdings in QuantumScape by 208.8% during the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company's stock worth $39,000 after buying an additional 4,556 shares during the last quarter. Atlas Legacy Advisors LLC bought a new stake in QuantumScape in the 4th quarter worth about $53,000. Finally, Empowered Funds LLC bought a new stake in shares of QuantumScape in the fourth quarter valued at $53,000. Institutional investors and hedge funds 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.

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