Truist Financial Cuts QuantumScape (NYSE:QS) Price Target to $6.00

QuantumScape (NYSE:QS) had its target price dropped by Truist Financial from $7.00 to $6.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential upside of 14.18% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. HSBC upgraded 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 upgraded QuantumScape to a “hold” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.58.

QuantumScape Stock Up 1.6 %

Shares of QS opened at $5.26 on Friday. QuantumScape has a 52-week low of $4.65 and a 52-week high of $9.52. The company has a market capitalization of $2.69 billion, a PE ratio of -5.53 and a beta of 4.45. The stock has a fifty day simple moving average of $5.27 and a two-hundred day simple moving average of $5.43. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, equities analysts forecast that QuantumScape will post -0.99 EPS for the current year.

Insider Transactions at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 27,305 shares of QuantumScape stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.07, for a total transaction of $138,436.35. Following the transaction, the insider now owns 1,129,167 shares of the company’s stock, valued at $5,724,876.69. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the transaction, the director now directly owns 241,195 shares in the company, valued at approximately $1,215,622.80. This trade represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 567,878 shares of company stock valued at $3,062,871. Corporate insiders own 12.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in QuantumScape by 79.9% during the third 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 period. Heck Capital Advisors LLC acquired a new position in QuantumScape during the fourth quarter worth approximately $26,000. International Assets Investment Management LLC increased its position in 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 buying an additional 4,228 shares during the period. Blue Trust Inc. grew 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 valued at $39,000 after purchasing an additional 4,556 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of QuantumScape in the 4th quarter valued at approximately $53,000. 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.