Hsbc Global Res Upgrades QuantumScape (NYSE:QS) to Hold

Hsbc Global Res upgraded shares of QuantumScape (NYSE:QS) to a hold rating in a research note published on Tuesday,Zacks.com reports.

QS has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $6.00 price objective on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research assumed coverage on shares of QuantumScape in a report on Thursday, September 5th. They set an “underperform” rating on the stock. Truist Financial reiterated a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Finally, HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.26.

QuantumScape Stock Performance

QS opened at $5.16 on Tuesday. The stock’s 50 day moving average price is $5.41 and its two-hundred day moving average price is $5.74. The firm has a market capitalization of $2.64 billion, a P/E ratio of -5.43 and a beta of 4.60. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape has a 12-month low of $4.65 and a 12-month high of $10.03.

QuantumScape (NYSE:QS) last issued 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 period in the previous year, the company earned ($0.23) EPS. On average, equities analysts forecast that QuantumScape will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Michael O. Mccarthy III sold 27,305 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.07, for a total value of $138,436.35. Following the transaction, the insider now owns 1,129,167 shares of the company’s stock, valued at approximately $5,724,876.69. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Fritz Prinz sold 12,908 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the completion of the transaction, the director now owns 241,195 shares of the company’s stock, valued at $1,215,622.80. The trade was a 5.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 702,057 shares of company stock valued at $3,982,909. 12.03% of the stock is owned by insiders.

Institutional Trading of QuantumScape

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QS. Nisa Investment Advisors LLC lifted its position in shares of QuantumScape by 6,650.0% during the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after purchasing an additional 133,000 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of QuantumScape in the 2nd quarter valued at $1,950,000. Sanctuary Advisors LLC acquired a new stake in QuantumScape during the 2nd quarter worth about $680,000. Susquehanna Fundamental Investments LLC acquired a new stake in QuantumScape during the second quarter valued at $644,000. Finally, American Century Companies Inc. lifted its stake in shares of QuantumScape by 880.6% in the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after purchasing an additional 316,361 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.