In yesterday’s Wall Street session, QuantumScape Corporation (NYSE:QS) shares traded at $6.81, down -7.09% from the previous session.
As of this writing, 7 analysts cover QuantumScape Corporation (NYSE:QS). The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $11.00 and a low of $2.00, we find $5.00. Given the previous closing price of $7.33, this indicates a potential downside of -31.79 percent. QS stock price is now -1.99% away from the 50-day moving average and -14.16% away from the 200-day moving average. The market capitalization of the company currently stands at $2.97B.
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There are 4 analysts who have given it a hold rating, whereas 0 have given it a buy rating. Brokers who have rated the stock have averaged $5.86 as their price target over the next twelve months.
With the price target maintained at $2, Wolfe Research recently Downgraded its rating from Peer Perform to Underperform for QuantumScape Corporation (NYSE: QS).
In other news, MCCARTHY MICHAEL O III, Chief Legal Officer sold 32,674 shares of the company’s stock on Jun 02. The stock was sold for $216,874 at an average price of $6.64. Upon completion of the transaction, the Chief Legal Officer now directly owns 915,166 shares in the company, valued at $6.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 08, Chief Executive Officer Singh Jagdeep sold 355,000 shares of the business’s stock. A total of $2,760,870 was realized by selling the stock at an average price of $7.78. This leaves the insider owning 970,877 shares of the company worth $6.61 million. Insiders disposed of 3,166,311 shares of company stock worth roughly $21.56 million over the past 1 year. A total of 1.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in QS stock. A new stake in QuantumScape Corporation shares was purchased by PRIVATE ADVISORY GROUP LLC during the first quarter worth $2,550,000. CANTOR FITZGERALD, L. P. invested $2,043,000 in shares of QS during the first quarter. In the first quarter, D. E. SHAW & CO., INC. acquired a new stake in QuantumScape Corporation valued at approximately $1,493,000. IMC-CHICAGO, LLC acquired a new stake in QS for approximately $1,168,000. TENZING GLOBAL MANAGEMENT, LLC purchased a new stake in QS valued at around $851,000 in the second quarter. In total, there are 433 active investors with 36.70% ownership of the company’s stock.
Thursday morning saw QuantumScape Corporation (NYSE: QS) opened at $6.64. During the past 12 months, QuantumScape Corporation has had a low of $5.11 and a high of $13.86. As of last week, the company has a debt-to-equity ratio of 0.03, a current ratio of 22.90, and a quick ratio of 22.90. The fifty day moving average price for QS is $6.93 and a two-hundred day moving average price translates $7.91 for the stock.
The latest earnings results from QuantumScape Corporation (NYSE: QS) was released for Mar, 2023. According to the Auto Parts Company, earnings per share came in at -$0.24, missing analysts’ expectations of -$0.2 by -0.04. This compares to -$0.21 EPS in the same period last year. The company reported revenue of $109.98 million for the quarter, compared to $90.66 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.31 percent.
QuantumScape Corporation(QS) Company Profile
QuantumScape Corporation, a development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. QuantumScape Corporation was founded in 2010 and is headquartered in San Jose, California.
