QuantumScape (NYSE:QS) Price Target Cut to $6.00 by Analysts at Truist Financial

QuantumScape (NYSE:QS) had its target price decreased by Truist Financial from $8.00 to $6.00 in a research report released on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Separately, Robert W. Baird boosted their price objective on shares of QuantumScape from $5.00 to $8.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $6.30.

QuantumScape Trading Down 7.0 %

Shares of NYSE QS opened at $5.10 on Monday. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.03. QuantumScape has a 1 year low of $4.92 and a 1 year high of $13.86. The firm’s 50-day moving average is $5.96 and its 200-day moving average is $6.42.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). During the same quarter in the prior year, the company earned ($0.25) EPS. Equities analysts expect that QuantumScape will post -0.93 EPS for the current year.

Insiders Place Their Bets

In other news, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael O. Mccarthy III sold 21,840 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $6.17, for a total value of $134,752.80. Following the transaction, the insider now directly owns 731,629 shares of the company’s stock, valued at $4,514,150.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey B. Straubel sold 69,309 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $6.72, for a total transaction of $465,756.48. Following the completion of the transaction, the director now directly owns 292,644 shares in the company, valued at $1,966,567.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,970 shares of company stock valued at $1,250,775. 10.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

Several institutional investors and hedge funds have recently modified their holdings of QS. CWM LLC grew its stake in shares of QuantumScape by 31.1% in the third quarter. CWM LLC now owns 7,555 shares of the company’s stock valued at $51,000 after acquiring an additional 1,794 shares in the last quarter. AE Wealth Management LLC acquired a new position in shares of QuantumScape in the third quarter valued at about $74,000. SG Americas Securities LLC grew its stake in shares of QuantumScape by 67.8% in the third quarter. SG Americas Securities LLC now owns 67,842 shares of the company’s stock valued at $454,000 after acquiring an additional 27,412 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of QuantumScape in the third quarter valued at about $88,000. Finally, Oak Thistle LLC acquired a new position in shares of QuantumScape in the third quarter valued at about $916,000. 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.