QuantumScape (NYSE:QS) Given New $6.00 Price Target at Truist Financial

QuantumScape (NYSE:QS) had its price objective decreased by Truist Financial from $7.00 to $6.00 in a research note published on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

QS has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Wolfe Research began coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus price target of $5.94.

QuantumScape Price Performance

NYSE:QS opened at $5.52 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 8.66. The stock has a market cap of $2.75 billion, a P/E ratio of -5.74 and a beta of 4.58. The company has a fifty day moving average price of $5.71 and a 200 day moving average price of $5.83. QuantumScape has a one year low of $4.67 and a one year high of $10.03.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). During the same period last year, the business earned ($0.26) earnings per share. Analysts anticipate that QuantumScape will post -0.9 earnings per share for the current year.

Insider Activity at QuantumScape

In other news, insider Michael O. Mccarthy III sold 222,476 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the sale, the insider now owns 1,283,847 shares in the company, valued at approximately $8,447,713.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QuantumScape news, insider Michael O. Mccarthy III sold 222,476 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $6.58, for a total transaction of $1,463,892.08. Following the transaction, the insider now owns 1,283,847 shares of the company’s stock, valued at approximately $8,447,713.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $5.50, for a total value of $1,057,485.00. Following the sale, the director now owns 2,809,253 shares of the company’s stock, valued at approximately $15,450,891.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,126,067 shares of company stock valued at $6,659,475 in the last ninety days. Insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of QuantumScape by 2.2% during the 1st 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 last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in QuantumScape by 240.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,256,034 shares of the company’s stock worth $26,770,000 after buying an additional 3,004,964 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in QuantumScape by 10.3% during the first quarter. Baillie Gifford & Co. now owns 2,679,518 shares of the company’s stock worth $16,854,000 after buying an additional 251,186 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of QuantumScape by 1.4% during the 1st 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 period. Finally, Bank of New York Mellon Corp increased its stake in shares of QuantumScape by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 930,614 shares of the company’s stock valued at $4,579,000 after acquiring an additional 11,897 shares during the last quarter. Institutional investors and hedge funds 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.