QuantumScape (NYSE:QS) Stock Rating Upgraded by Hsbc Global Res

QuantumScape (NYSE:QS) was upgraded by equities researchers at Hsbc Global Res to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on QS. Wolfe Research assumed coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a research note on Tuesday, September 10th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research note on Tuesday. Finally, Truist Financial reissued a “hold” rating and issued a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Stock Performance

QS opened at $5.06 on Tuesday. QuantumScape has a 12-month low of $4.65 and a 12-month high of $10.03. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.59 billion, a PE ratio of -5.32 and a beta of 4.60. The firm has a 50 day moving average of $5.43 and a two-hundred day moving average of $5.74.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter in the previous year, the firm earned ($0.23) EPS. On average, analysts anticipate that QuantumScape will post -0.97 EPS for the current year.

Insiders Place Their Bets

In other news, insider Michael O. Mccarthy III sold 106,084 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $5.90, for a total transaction of $625,895.60. Following the transaction, the insider now owns 1,181,884 shares of the company’s stock, valued at approximately $6,973,115.60. The trade was a 8.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Hettrich sold 58,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $5.78, for a total transaction of $335,240.00. Following the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $6,202,067.16. The trade was a 5.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 606,197 shares of company stock valued at $3,498,399 in the last 90 days. 12.03% of the stock is owned by insiders.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently bought and sold shares of QS. 180 Wealth Advisors LLC increased its stake in QuantumScape by 2.7% during the second quarter. 180 Wealth Advisors LLC now owns 79,741 shares of the company’s stock worth $392,000 after purchasing an additional 2,059 shares during the period. Signaturefd LLC increased its stake in QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares during the period. CWM LLC increased its stake in QuantumScape by 56.0% during the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after purchasing an additional 2,556 shares during the period. Farther Finance Advisors LLC increased its stake in QuantumScape by 32.4% during the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after purchasing an additional 3,310 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in QuantumScape by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after purchasing an additional 3,527 shares during the period. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.