Brokerages Set QuantumScape Co. (NYSE:QS) Price Target at $6.26

Shares of QuantumScape Co. (NYSE:QS) have earned a consensus recommendation of “Reduce” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.26.

A number of analysts have issued reports on the company. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target for the company in a report on Tuesday, November 19th. Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Finally, Truist Financial reissued a “hold” rating and set a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a report on Friday, October 25th.

QuantumScape Price Performance

Shares of QS opened at $5.00 on Thursday. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -5.26 and a beta of 4.45. The firm’s fifty day simple moving average is $5.28 and its 200-day simple moving average is $5.54. QuantumScape has a twelve month low of $4.65 and a twelve month high of $9.52. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03.

Insiders Place Their Bets

In other QuantumScape news, Director Jagdeep Singh sold 5,531 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the completion of the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at $12,978,820.83. This represents a 0.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Hettrich sold 36,949 shares of QuantumScape stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the transaction, the chief financial officer now owns 1,024,325 shares in the company, valued at $5,183,084.50. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 573,409 shares of company stock valued at $3,090,581 over the last quarter. Company insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently modified their holdings of QS. Norden Group LLC acquired a new stake in shares of QuantumScape in the 4th quarter worth $143,000. SVB Wealth LLC acquired a new stake in QuantumScape in the fourth quarter valued at about $67,000. Towerview LLC boosted its holdings in QuantumScape by 11.1% in the 4th quarter. Towerview LLC now owns 100,000 shares of the company’s stock valued at $519,000 after purchasing an additional 10,000 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in QuantumScape during the 4th quarter worth approximately $1,275,000. Finally, Birchcreek Wealth Management LLC raised its stake in shares of QuantumScape by 13.6% during 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 in the last quarter. 29.87% of the stock is 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.