QuantumScape (NYSE:QS) Receives “Hold” Rating from Truist Financial

Truist Financial restated their hold rating on shares of QuantumScape (NYSE:QS) in a research report report published on Friday, Benzinga reports. The brokerage currently has a $7.00 target price on the stock, up from their prior target price of $6.00.

A number of other equities research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.14.

QuantumScape Stock Down 4.8 %

Shares of QuantumScape stock traded down $0.31 during trading hours on Friday, reaching $6.19. 20,642,241 shares of the company were exchanged, compared to its average volume of 5,092,081. The firm has a market cap of $3.09 billion, a PE ratio of -6.45 and a beta of 4.58. The stock’s fifty day moving average is $5.69 and its 200 day moving average is $5.81. QuantumScape has a 1 year low of $4.67 and a 1 year high of $10.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 8.66.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the prior year, the business earned ($0.23) earnings per share. As a group, equities research analysts forecast that QuantumScape will post -0.9 earnings per share for the current year.

Insider Activity

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total transaction of $189,992.43. Following the transaction, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at approximately $5,890,890.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total transaction of $189,992.43. Following the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Fritz Prinz sold 12,908 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.96, for a total transaction of $76,931.68. Following the completion of the sale, the director now owns 254,103 shares of the company’s stock, valued at approximately $1,514,453.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,126,067 shares of company stock worth $6,659,475. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC raised its position in QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after buying an additional 2,148 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after acquiring an additional 4,228 shares during the period. CWM LLC lifted its position in QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares during the period. Mather Group LLC. purchased a new stake in QuantumScape in the 2nd quarter valued at approximately $36,000. Finally, Alaska Wealth Advisors acquired a new position in QuantumScape during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds 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.