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

Truist Financial reaffirmed their hold rating on shares of QuantumScape (NYSE:QS) in a research note issued to investors on Friday, Benzinga reports. Truist Financial currently has a $7.00 price target on the stock, up from their prior price target of $6.00.

QS has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research started coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.14.

QuantumScape Stock Performance

Shares of QS traded down $0.31 during trading hours on Friday, reaching $6.19. 20,642,241 shares of the company traded hands, compared to its average volume of 5,092,081. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average price of $5.69 and a 200-day moving average price of $5.81. QuantumScape has a 12-month low of $4.67 and a 12-month high of $10.03. The stock has a market capitalization of $3.09 billion, a P/E ratio of -6.45 and a beta of 4.58.

QuantumScape (NYSE:QS) last issued its earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the firm posted ($0.23) earnings per share. Equities analysts anticipate that QuantumScape will post -0.9 EPS for the current fiscal year.

Insider Transactions at QuantumScape

In other QuantumScape news, CFO Kevin Hettrich sold 34,607 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the sale, the chief financial officer now owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Timothy Holme sold 44,306 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $6.11, for a total value of $270,709.66. Following the completion of the sale, the chief technology officer now owns 1,168,496 shares of the company’s stock, valued at approximately $7,139,510.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total transaction of $189,992.43. Following the sale, the chief financial officer now owns 1,073,022 shares of the company’s stock, valued at approximately $5,890,890.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,126,067 shares of company stock valued at $6,659,475 over the last 90 days. 10.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its stake in shares of QuantumScape by 79.9% in 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 period. International Assets Investment Management LLC raised its position in QuantumScape by 475.1% in 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 period. CWM LLC raised its position in QuantumScape by 56.0% in the second quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares during the period. Mather Group LLC. acquired a new position in QuantumScape during the second quarter worth $36,000. Finally, Alaska Wealth Advisors purchased a new position in shares of QuantumScape during the second quarter worth $49,000. Institutional investors and hedge funds 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.