QuantumScape (NYSE:QS) Given “Hold” Rating at Truist Financial

Truist Financial restated their hold rating on shares of QuantumScape (NYSE:QS) in a research note released on Monday, Benzinga reports. Truist Financial currently has a $7.00 price target on the stock, up from their previous price target of $6.00.

Separately, UBS Group reduced their target price on QuantumScape from $9.00 to $5.00 and set a neutral rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $6.62.

QuantumScape Trading Down 6.1 %

QS stock traded down $0.38 during trading on Monday, reaching $5.87. 6,552,829 shares of the stock traded hands, compared to its average volume of 9,496,464. The business’s 50 day moving average price is $6.06 and its 200-day moving average price is $6.11. QuantumScape has a 52-week low of $4.67 and a 52-week high of $10.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 10.38. The firm has a market capitalization of $2.93 billion, a PE ratio of -6.14 and a beta of 4.62.

QuantumScape (NYSE:QS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same period in the prior year, the business posted ($0.26) earnings per share. As a group, sell-side analysts forecast that QuantumScape will post -0.9 earnings per share for the current year.

Insider Transactions at QuantumScape

In related news, insider Mccarthy Michael 222,476 shares of the business’s stock in a transaction dated Monday, July 29th. The was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Michael O. Mccarthy III sold 22,554 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $5.72, for a total transaction of $129,008.88. Following the completion of the sale, the insider now directly owns 1,207,500 shares in the company, valued at $6,906,900. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mccarthy Michael 222,476 shares of the firm’s stock in a transaction on Monday, July 29th. The disclosure for this trade can be found here. Insiders sold a total of 1,070,038 shares of company stock valued at $6,333,595 in the last three months. 10.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuantumScape

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in QuantumScape by 2.2% during the first 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. Mirae Asset Global Investments Co. Ltd. boosted its holdings in QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock valued at $26,770,000 after purchasing an additional 3,004,964 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in QuantumScape by 10.3% during the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock valued at $16,854,000 after purchasing an additional 251,186 shares in the last quarter. Norges Bank acquired a new stake in QuantumScape during the fourth quarter valued at approximately $18,482,000. Finally, Board of Trustees of The Leland Stanford Junior University boosted its holdings in QuantumScape by 5.2% during the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,610,677 shares of the company’s stock valued at $18,144,000 after purchasing an additional 129,239 shares in the last quarter. 29.87% of the stock is currently owned by institutional investors.

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.