QuantumScape (NYSE:QS) Price Target Lowered to $8.00 at Evercore ISI

QuantumScape (NYSE:QS) had its price target trimmed by Evercore ISI from $10.00 to $8.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently commented on the company. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a report on Tuesday, November 19th. Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Finally, Truist Financial decreased their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.06.

QuantumScape Price Performance

Shares of QS opened at $5.52 on Tuesday. The firm has a market capitalization of $2.83 billion, a PE ratio of -5.81 and a beta of 4.45. The stock has a 50 day simple moving average of $5.28 and a 200 day simple moving average of $5.41. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. QuantumScape has a 52-week low of $4.65 and a 52-week high of $9.52.

QuantumScape (NYSE:QS) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). Sell-side analysts predict that QuantumScape will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mohit Singh sold 97,305 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the transaction, the insider now owns 1,092,020 shares of the company’s stock, valued at approximately $6,814,204.80. This represents a 8.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Hettrich sold 36,949 shares of QuantumScape stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $5.06, for a total transaction of $186,961.94. Following the transaction, the chief financial officer now directly owns 1,024,325 shares of the company’s stock, valued at approximately $5,183,084.50. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 567,878 shares of company stock valued at $3,062,871 over the last ninety days. 12.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Tidal Investments LLC grew its position in QuantumScape by 13.0% in the fourth quarter. Tidal Investments LLC now owns 138,089 shares of the company’s stock worth $717,000 after acquiring an additional 15,865 shares in the last quarter. Shay Capital LLC bought a new stake in QuantumScape during the 4th quarter valued at about $123,000. Raiffeisen Bank International AG purchased a new stake in QuantumScape in the 4th quarter valued at about $29,000. Man Group plc bought a new position in QuantumScape in the 4th quarter worth about $252,000. Finally, Numerai GP LLC increased its position in shares of QuantumScape by 518.8% during the fourth quarter. Numerai GP LLC now owns 118,352 shares of the company’s stock worth $614,000 after acquiring an additional 99,226 shares during the period. 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.