Evercore ISI Cuts QuantumScape (NYSE:QS) Price Target to $8.00

QuantumScape (NYSE:QS) had its price target decreased by Evercore ISI from $10.00 to $8.00 in a research note released on Tuesday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Other equities research analysts have also issued reports about the company. Hsbc Global Res raised QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Finally, Truist Financial reduced their target price on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned 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 target price of $6.06.

QuantumScape Trading Up 2.4 %

Shares of QS stock opened at $5.33 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -5.66 and a beta of 4.45. QuantumScape has a 52-week low of $4.65 and a 52-week high of $9.52. The company has a 50-day simple moving average of $5.29 and a two-hundred day simple moving average of $5.41.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Research analysts anticipate that QuantumScape will post -0.82 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, CFO Kevin Hettrich sold 29,667 shares of QuantumScape stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $5.10, for a total value of $151,301.70. Following the completion of the transaction, the chief financial officer now directly owns 1,024,325 shares in the company, valued at approximately $5,224,057.50. The trade was a 2.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $6.24, for a total transaction of $607,183.20. Following the sale, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. The trade was a 8.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 472,018 shares of company stock worth $2,578,361. Company insiders own 12.03% of the company’s stock.

Institutional Trading of QuantumScape

Several institutional investors and hedge funds have recently bought and sold shares of QS. Heck Capital Advisors LLC purchased a new position in shares of QuantumScape during the 4th quarter valued at $26,000. Signaturefd LLC boosted its holdings in shares of QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of QuantumScape by 475.1% during the 3rd 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 purchased a new position in shares of QuantumScape during the 4th quarter valued at about $29,000. Finally, Blue Trust Inc. lifted its position in QuantumScape by 208.8% in the 4th quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after buying an additional 4,556 shares during the last quarter. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

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.