QuantumScape (NYSE:QS) Price Target Cut to $8.00 by Analysts at Evercore ISI

QuantumScape (NYSE:QS) had its price objective cut by Evercore ISI from $10.00 to $8.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also weighed in on the company. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research note on Tuesday, November 19th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Finally, Truist Financial decreased their price objective on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.06.

QuantumScape Stock Up 2.4 %

Shares of NYSE:QS opened at $5.33 on Tuesday. The stock has a market capitalization of $2.73 billion, a P/E ratio of -5.66 and a beta of 4.45. The stock’s 50-day moving average price is $5.29 and its 200-day moving average price is $5.41. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape has a 12-month low of $4.65 and a 12-month high of $9.52.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.01). On average, equities analysts anticipate that QuantumScape will post -0.82 earnings per share for the current year.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 36,949 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $5.06, for a total transaction of $186,961.94. Following the transaction, the chief financial officer now owns 1,024,325 shares in the company, valued at $5,183,084.50. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This trade represents a 8.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 472,018 shares of company stock worth $2,578,361 over the last quarter. 12.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new stake in QuantumScape in the fourth quarter worth $26,000. Signaturefd LLC lifted its position in QuantumScape by 79.9% during the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after buying an additional 2,148 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of QuantumScape in the 4th quarter worth about $29,000. Finally, Blue Trust Inc. increased its stake in shares of QuantumScape by 208.8% in the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after acquiring an additional 4,556 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.