QuantumScape (NYSE:QS – Get Rating) had its target price dropped by analysts at Deutsche Bank Aktiengesellschaft from $10.00 to $8.00 in a research report issued on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft's price objective would indicate a potential upside of 14.29% from the stock's current price.
A number of other analysts also recently issued reports on the company. Morgan Stanley lowered their price target on QuantumScape from $4.00 to $3.00 and set an "underweight" rating for the company in a research report on Wednesday, January 25th. The Goldman Sachs Group decreased their target price on QuantumScape from $5.00 to $4.00 and set a "sell" rating for the company in a research report on Wednesday, April 12th.
Get QuantumScape alerts:QuantumScape Stock Down 3.0 %
NYSE:QS opened at $7.00 on Friday. The firm's 50-day moving average price is $7.97 and its 200-day moving average price is $7.67. The company has a market capitalization of $3.05 billion, a PE ratio of -7.14 and a beta of 5.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 22.91 and a quick ratio of 22.91. QuantumScape has a 1-year low of $5.11 and a 1-year high of $16.51.
QuantumScape (NYSE:QS – Get Rating) last posted its earnings results on Wednesday, April 26th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). During the same quarter last year, the company posted ($0.21) EPS. On average, equities analysts predict that QuantumScape will post -0.9 EPS for the current fiscal year.
Insider Buying and Selling
In other QuantumScape news, CEO Jagdeep Singh sold 355,000 shares of the business's stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $7.78, for a total value of $2,761,900.00. Following the completion of the transaction, the chief executive officer now directly owns 970,877 shares of the company's stock, valued at $7,553,423.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other QuantumScape news, CFO Kevin Hettrich sold 48,471 shares of the firm's stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $9.15, for a total value of $443,509.65. Following the completion of the sale, the chief financial officer now directly owns 629,490 shares of the company's stock, valued at approximately $5,759,833.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jagdeep Singh sold 355,000 shares of the firm's stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $7.78, for a total value of $2,761,900.00. Following the sale, the chief executive officer now directly owns 970,877 shares of the company's stock, valued at $7,553,423.06. The disclosure for this sale can be found here. Insiders sold 1,423,199 shares of company stock valued at $12,699,486 over the last quarter. 13.73% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On QuantumScape
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of QuantumScape by 11.9% in the third quarter. Vanguard Group Inc. now owns 20,555,744 shares of the company's stock valued at $172,874,000 after buying an additional 2,178,359 shares in the last quarter. BlackRock Inc. increased its stake in QuantumScape by 0.3% during the first quarter. BlackRock Inc. now owns 8,906,170 shares of the company's stock worth $178,034,000 after acquiring an additional 25,914 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of QuantumScape by 6.5% in the fourth quarter. Two Sigma Investments LP now owns 4,553,486 shares of the company's stock valued at $25,818,000 after buying an additional 278,485 shares in the last quarter. Geode Capital Management LLC boosted its holdings in QuantumScape by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 3,646,075 shares of the company's stock valued at $20,673,000 after purchasing an additional 255,729 shares during the last quarter. Finally, State Street Corp lifted its holdings in QuantumScape by 0.6% during the 3rd quarter. State Street Corp now owns 3,196,550 shares of the company's stock worth $26,883,000 after buying an additional 19,209 shares during the last quarter. Hedge funds and other institutional investors own 26.09% of the company's stock.
QuantumScape Company Profile
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QuantumScape Corporation, a 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.
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