QuantumScape (NYSE:QS) Raised to “Hold” at HSBC

HSBC upgraded shares of QuantumScape (NYSE:QS) from a reduce rating to a hold rating in a research note published on Tuesday, Marketbeat reports. They currently have $5.30 price objective on the stock.

QS has been the topic of several other research reports. Wolfe Research assumed coverage on shares of QuantumScape in a report on Thursday, September 5th. They issued an “underperform” rating on the stock. Truist Financial reaffirmed a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 price objective on shares of QuantumScape in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and a consensus target price of $6.26.

QuantumScape Price Performance

NYSE:QS opened at $5.06 on Tuesday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -5.32 and a beta of 4.60. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. QuantumScape has a 52 week low of $4.65 and a 52 week high of $10.03. The company has a 50-day moving average of $5.43 and a 200-day moving average of $5.74.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same period last year, the company posted ($0.23) earnings per share. As a group, equities research analysts anticipate that QuantumScape will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kevin Hettrich sold 58,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $5.78, for a total value of $335,240.00. Following the transaction, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at $6,202,067.16. This represents a 5.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jagdeep Singh sold 192,270 shares of QuantumScape stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total value of $1,151,697.30. Following the sale, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $15,517,592.17. This trade represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 606,197 shares of company stock valued at $3,498,399 over the last 90 days. 12.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently bought and sold shares of the company. Signaturefd LLC lifted its stake in QuantumScape by 79.9% in 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 in the last quarter. International Assets Investment Management LLC increased its holdings in QuantumScape by 475.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares in the last quarter. CWM LLC raised its stake in shares of QuantumScape by 56.0% in the 2nd 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. acquired a new stake in shares of QuantumScape in the 2nd quarter valued at about $36,000. Finally, Alaska Wealth Advisors bought a new stake in shares of QuantumScape in the second quarter valued at about $49,000. 29.87% of the stock is currently 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.