QuantumScape (NYSE:QS) Price Target Cut to $5.00 by Analysts at UBS Group

QuantumScape (NYSE:QS) had its target price trimmed by UBS Group from $9.00 to $5.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently issued reports on QS. Robert W. Baird lifted their price objective on QuantumScape from $5.00 to $8.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Truist Financial lowered their price target on QuantumScape from $8.00 to $6.00 and set a hold rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $6.30.

QuantumScape Stock Performance

QuantumScape stock opened at $5.19 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 18.98 and a quick ratio of 18.98. QuantumScape has a fifty-two week low of $4.92 and a fifty-two week high of $13.86. The stock’s fifty day moving average is $5.96 and its two-hundred day moving average is $6.42.

QuantumScape (NYSE:QS) last posted its quarterly earnings data 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 quarter last year, the business earned ($0.25) earnings per share. Sell-side analysts forecast that QuantumScape will post -0.93 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 21,840 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $6.17, for a total transaction of $134,752.80. Following the completion of the transaction, the insider now directly owns 731,629 shares in the company, valued at $4,514,150.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $6.54, for a total value of $226,329.78. Following the sale, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael O. Mccarthy III sold 21,840 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $6.17, for a total transaction of $134,752.80. Following the completion of the sale, the insider now owns 731,629 shares in the company, valued at approximately $4,514,150.93. The disclosure for this sale can be found here. Insiders sold a total of 194,970 shares of company stock worth $1,250,775 over the last quarter. Company insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several large investors have recently modified their holdings of the stock. Spire Wealth Management boosted its holdings in QuantumScape by 39.0% in the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of QuantumScape by 595.1% during the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after acquiring an additional 5,296 shares during the last quarter. C M Bidwell & Associates Ltd. lifted its holdings in shares of QuantumScape by 37.3% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 6,754 shares of the company’s stock worth $45,000 after acquiring an additional 1,835 shares during the last quarter. CWM LLC lifted its holdings in shares of QuantumScape by 31.1% during the 3rd quarter. CWM LLC now owns 7,555 shares of the company’s stock worth $51,000 after acquiring an additional 1,794 shares during the last quarter. Finally, StepStone Group LP bought a new stake in shares of QuantumScape during the 4th quarter worth $56,000. Hedge funds and other 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.