HSBC Upgrades QuantumScape (NYSE:QS) to “Hold”

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

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

QuantumScape Stock Performance

NYSE QS opened at $4.95 on Tuesday. The company’s 50 day moving average is $5.46 and its 200-day moving average is $5.75. QuantumScape has a 12-month low of $4.65 and a 12-month high of $10.03. 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 firm has a market cap of $2.53 billion, a P/E ratio of -5.21 and a beta of 4.60.

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 the consensus estimate of ($0.21) by ($0.02). During the same quarter in the prior year, the company earned ($0.23) EPS. Sell-side analysts predict that QuantumScape will post -0.97 earnings per share for the current year.

Insider Buying and Selling

In other QuantumScape news, insider Michael O. Mccarthy III sold 106,084 shares of the business’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 owns 1,181,884 shares of the company’s stock, valued at $6,973,115.60. The trade was a 8.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of the business’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 transaction 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 approximately $12,978,820.83. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 606,197 shares of company stock valued at $3,498,399. Company insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently bought and sold shares of QS. Vanguard Group Inc. grew its stake in QuantumScape by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock worth $191,750,000 after buying an additional 656,646 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of QuantumScape in the 2nd quarter valued at $1,950,000. American Century Companies Inc. boosted its stake in shares of QuantumScape by 880.6% in the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after purchasing an additional 218,743 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of QuantumScape in the 1st quarter valued at $1,002,000. Hedge funds and other institutional investors own 29.87% of the company’s stock.

QuantumScape Company Profile

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.