QuantumScape (NYSE:QS) Upgraded at HSBC

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

QS has been the subject of a number of other reports. Wolfe Research started coverage on shares of QuantumScape in a research note on Thursday, September 5th. They set an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft restated 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 reiterated a “hold” rating and set a $7.00 price objective (up from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. One research 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, QuantumScape presently has an average rating of “Hold” and an average price target of $6.26.

QuantumScape Price Performance

NYSE:QS opened at $5.06 on Tuesday. 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 business’s 50-day moving average price is $5.43 and its 200 day moving average price is $5.74. QuantumScape has a 52-week low of $4.65 and a 52-week high of $10.03. The firm has a market cap of $2.59 billion, a P/E ratio of -5.32 and a beta of 4.60.

QuantumScape (NYSE:QS) last announced its quarterly earnings data 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 prior year, the business posted ($0.23) earnings per share. As a group, sell-side analysts predict that QuantumScape will post -0.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares of the company’s stock, valued at $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at $5,890,890.78. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 606,197 shares of company stock worth $3,498,399 in the last quarter. 12.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in QuantumScape by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after acquiring an additional 656,646 shares during the period. State Street Corp boosted its stake in QuantumScape by 1.5% during the 3rd quarter. State Street Corp now owns 5,918,496 shares of the company’s stock valued at $34,031,000 after purchasing an additional 87,563 shares during the period. Geode Capital Management LLC grew its holdings in 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 buying an additional 218,743 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in QuantumScape by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,227,072 shares of the company’s stock worth $12,806,000 after buying an additional 93,826 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of QuantumScape by 1.4% during the first quarter. Janus Henderson Group PLC now owns 1,825,270 shares of the company’s stock worth $11,482,000 after buying an additional 25,347 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

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.