Brokerages Set QuantumScape Co. (NYSE:QS) Target Price at $6.71

Shares of QuantumScape Co. (NYSE:QS) have earned an average rating of “Reduce” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.71.

A number of research firms have recently issued reports on QS. Robert W. Baird boosted their price target on shares of QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Truist Financial upped their price target on shares of QuantumScape from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Finally, William Blair assumed coverage on shares of QuantumScape in a research report on Monday, December 18th. They issued a “market perform” rating for the company.

QuantumScape Trading Up 2.1 %

Shares of NYSE:QS opened at $6.27 on Friday. The company has a 50 day moving average of $6.38 and a 200-day moving average of $6.49. The firm has a market cap of $3.11 billion, a P/E ratio of -6.53 and a beta of 4.77. QuantumScape has a twelve month low of $4.99 and a twelve month high of $13.86. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period last year, the company posted ($0.25) EPS. As a group, analysts anticipate that QuantumScape will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $6.14, for a total transaction of $212,486.98. Following the transaction, the chief financial officer now owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $6.14, for a total value of $212,486.98. Following the transaction, the chief financial officer now directly owns 1,178,512 shares in the company, valued at approximately $7,236,063.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the completion of the transaction, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,970 shares of company stock worth $1,250,775. 10.18% of the stock is owned by corporate insiders.

Institutional Trading of QuantumScape

Hedge funds and other institutional investors have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. acquired a new stake in QuantumScape in the 2nd quarter worth $39,000. Tower Research Capital LLC TRC grew its position in QuantumScape by 49.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,142 shares of the company’s stock worth $34,000 after purchasing an additional 1,704 shares during the last quarter. Spire Wealth Management grew its position in QuantumScape by 39.0% in the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares during the last quarter. Clear Street Markets LLC acquired a new stake in QuantumScape in the 4th quarter worth $32,000. Finally, Canada Pension Plan Investment Board acquired a new stake in QuantumScape in the 1st quarter worth $120,000. 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.