QuantumScape (NYSE:QS) Upgraded at Hsbc Global Res

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

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

QuantumScape Stock Performance

QS opened at $5.06 on Tuesday. The business has a 50 day moving average price of $5.43 and a two-hundred day moving average price of $5.74. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -5.32 and a beta of 4.60. QuantumScape has a 1-year low of $4.65 and a 1-year high of $10.03.

QuantumScape (NYSE:QS) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the business posted ($0.23) earnings per share. Research analysts predict that QuantumScape will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling

In other QuantumScape news, CFO Kevin Hettrich sold 58,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $5.78, for a total value of $335,240.00. Following the transaction, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at $6,202,067.16. This represents a 5.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jagdeep Singh sold 5,531 shares of QuantumScape stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total value of $27,710.31. Following the sale, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 606,197 shares of company stock valued at $3,498,399. Corporate insiders own 12.03% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QS. Signaturefd LLC grew its position in QuantumScape by 79.9% in the third quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in QuantumScape by 475.1% in the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares in the last quarter. CWM LLC increased its position in QuantumScape by 56.0% during the second 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 last quarter. Mather Group LLC. bought a new position in QuantumScape during the second quarter valued at about $36,000. Finally, Alaska Wealth Advisors acquired a new stake in shares of QuantumScape in the second quarter worth about $49,000. 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.