Evercore ISI Issues Pessimistic Forecast for QuantumScape (NYSE:QS) Stock Price

QuantumScape (NYSE:QS) had its price target reduced by equities research analysts at Evercore ISI from $10.00 to $8.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target suggests a potential upside of 44.85% from the company’s previous close.

Several other research firms have also recently commented on QS. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price for the company in a research report on Tuesday, November 19th. Truist Financial cut their price objective on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, QuantumScape presently has an average rating of “Hold” and an average price target of $6.06.

QuantumScape Trading Up 5.6 %

Shares of QuantumScape stock traded up $0.29 during trading on Tuesday, reaching $5.52. 6,696,440 shares of the stock were exchanged, compared to its average volume of 15,603,842. QuantumScape has a 1 year low of $4.65 and a 1 year high of $9.52. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -5.78 and a beta of 4.45. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $5.27 and its 200 day moving average is $5.42.

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

Insider Buying and Selling at QuantumScape

In related news, Director Jagdeep Singh sold 308,097 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.30, for a total transaction of $1,632,914.10. Following the completion of the sale, the director now owns 2,563,767 shares of the company’s stock, valued at $13,587,965.10. This trade represents a 10.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total transaction of $65,056.32. Following the completion of the transaction, the director now owns 241,195 shares of the company’s stock, valued at approximately $1,215,622.80. The trade was a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders 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

Hedge funds have recently modified their holdings of the business. Heck Capital Advisors LLC bought a new stake in QuantumScape in the 4th quarter worth about $26,000. Signaturefd LLC boosted its holdings in shares of QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock valued at $28,000 after acquiring an additional 2,148 shares during the last quarter. International Assets Investment Management LLC raised its holdings 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 valued at $29,000 after purchasing an additional 4,228 shares during the last quarter. Raiffeisen Bank International AG bought a new position in QuantumScape during the fourth quarter valued at approximately $29,000. Finally, Blue Trust Inc. boosted its holdings in QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after purchasing an additional 4,556 shares during 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.