UBS Group Trims QuantumScape (NYSE:QS) Target Price to $5.00

QuantumScape (NYSE:QS) had its price objective decreased by UBS Group from $9.00 to $5.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock.

A number of other brokerages have also recently issued reports on QS. Truist Financial decreased their target price on QuantumScape from $8.00 to $6.00 and set a “hold” rating for the company in a research report on Monday. Robert W. Baird upped their target price on QuantumScape from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.30.

QuantumScape Price Performance

Shares of NYSE:QS traded down $0.48 during trading on Thursday, reaching $5.00. The stock had a trading volume of 7,548,136 shares, compared to its average volume of 9,339,381. The company has a debt-to-equity ratio of 0.03, a quick ratio of 18.98 and a current ratio of 18.98. The business has a fifty day moving average price of $6.00 and a 200-day moving average price of $6.43. The stock has a market cap of $2.48 billion, a PE ratio of -5.21 and a beta of 4.76. QuantumScape has a 1-year low of $4.92 and a 1-year high of $13.86.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). During the same period in the previous year, the firm posted ($0.25) earnings per share. On average, equities analysts forecast that QuantumScape will post -0.96 earnings per share for the current fiscal year.

Insider Buying and Selling at QuantumScape

In other news, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $6.72, for a total transaction of $465,756.48. Following the sale, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeffrey B. Straubel sold 69,309 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $6.72, for a total transaction of $465,756.48. Following the sale, the director now owns 292,644 shares in the company, valued at $1,966,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $6.54, for a total value of $226,329.78. Following the sale, the chief financial officer now owns 554,553 shares in the company, valued at approximately $3,626,776.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,970 shares of company stock worth $1,250,775. 10.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its position in QuantumScape by 97.7% in the third quarter. Citigroup Inc. now owns 105,065 shares of the company’s stock valued at $703,000 after purchasing an additional 51,934 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its position in shares of QuantumScape by 34.5% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 11,160 shares of the company’s stock worth $77,000 after acquiring an additional 2,861 shares during the last quarter. Scotia Capital Inc. purchased a new stake in shares of QuantumScape during the third quarter worth about $95,000. HBK Sorce Advisory LLC increased its position in shares of QuantumScape by 11.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 21,551 shares of the company’s stock worth $150,000 after acquiring an additional 2,264 shares during the last quarter. Finally, Simplicity Solutions LLC purchased a new stake in shares of QuantumScape during the fourth quarter worth about $719,000. 29.87% of the stock is owned by hedge funds and other 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.