QuantumScape (NYSE:QS) Upgraded to “Hold” at Hsbc Global Res

QuantumScape (NYSE:QS) was upgraded by investment analysts at Hsbc Global Res to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on QS. Wolfe Research initiated coverage on shares of QuantumScape in a research note on Thursday, September 5th. They issued an “underperform” rating on the stock. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price target on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, Truist Financial reissued a “hold” rating and set a $7.00 price target (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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 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 period in the prior year, the firm earned ($0.23) EPS. On average, analysts anticipate that QuantumScape will post -0.97 EPS for the current year.

Insider Buying and Selling

In related 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 value of $27,710.31. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael O. Mccarthy III sold 106,084 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $5.90, for a total value of $625,895.60. Following the completion of the transaction, the insider now directly owns 1,181,884 shares of the company’s stock, valued at $6,973,115.60. This trade represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 606,197 shares of company stock worth $3,498,399. Company insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Large investors have recently modified their holdings of the company. Signaturefd LLC raised its stake in shares of 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 last quarter. International Assets Investment Management LLC raised its position in QuantumScape by 475.1% in 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 in the last quarter. CWM LLC raised its position in QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after acquiring an additional 2,556 shares in the last quarter. Mather Group LLC. purchased a new position in QuantumScape in the second quarter worth $36,000. Finally, Alaska Wealth Advisors purchased a new position in QuantumScape in the second quarter worth $49,000. 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.