QuantumScape (NYSE:QS) Given “Hold” Rating at Truist Financial

Truist Financial reaffirmed their hold rating on shares of QuantumScape (NYSE:QS) in a report published on Monday, Benzinga reports. The firm currently has a $7.00 price objective on the stock, up from their prior price objective of $6.00.

Separately, UBS Group dropped their target price on shares of QuantumScape from $9.00 to $5.00 and set a neutral rating on the stock in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of Hold and a consensus price target of $6.62.

QuantumScape Trading Down 6.1 %

Shares of QS stock traded down $0.38 during trading hours on Monday, reaching $5.87. The company had a trading volume of 6,552,829 shares, compared to its average volume of 9,496,464. The company has a 50 day moving average of $6.06 and a 200 day moving average of $6.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.66 and a quick ratio of 10.38. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -6.14 and a beta of 4.62. QuantumScape has a 1-year low of $4.67 and a 1-year high of $10.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). During the same quarter in the prior year, the company posted ($0.26) earnings per share. On average, equities research analysts anticipate that QuantumScape will post -0.9 EPS for the current year.

Insider Buying and Selling

In other news, Director Fritz Prinz sold 25,816 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.87, for a total transaction of $125,723.92. Following the sale, the director now directly owns 267,011 shares in the company, valued at approximately $1,300,343.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Fritz Prinz sold 25,816 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.87, for a total transaction of $125,723.92. Following the transaction, the director now directly owns 267,011 shares in the company, valued at $1,300,343.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin Hettrich sold 45,848 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $5.61, for a total transaction of $257,207.28. Following the transaction, the chief financial officer now owns 1,145,821 shares in the company, valued at $6,428,055.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,070,038 shares of company stock valued at $6,333,595. Company insiders own 10.18% of the company’s stock.

Institutional Trading of QuantumScape

Several institutional investors have recently modified their holdings of QS. Spire Wealth Management raised its stake in shares of QuantumScape by 39.0% in the 4th quarter. Spire Wealth Management now owns 5,350 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares during the period. CWM LLC increased its stake in QuantumScape by 56.0% during the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock worth $35,000 after buying an additional 2,556 shares during the period. Mather Group LLC. acquired a new position in QuantumScape during the 2nd quarter worth approximately $36,000. International Assets Investment Management LLC grew its holdings in QuantumScape by 595.1% during the 4th quarter. International Assets Investment Management LLC now owns 6,186 shares of the company’s stock worth $43,000 after acquiring an additional 5,296 shares in the last quarter. Finally, Alaska Wealth Advisors acquired a new position in QuantumScape during the 2nd quarter worth approximately $49,000. 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.