The stock of QuantumScape Corporation (NYSE:QS) last traded at $8.15, up 2.13% from the previous session.
Data from the available sources indicates that QuantumScape Corporation (NYSE:QS) is covered by 8 analysts. The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $2.00, we find $7.00. Given the previous closing price of $7.98, this indicates a potential downside of -12.28 percent. QS stock price is now -3.74% away from the 50-day moving average and 5.36% away from the 200-day moving average. The market capitalization of the company currently stands at $4.01B.
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In total, 5 analysts have assigned it a hold rating, and 0 have given it a buy rating. Brokers who have rated the stock have averaged $6.50 as their price target over the next twelve months.
With the price target reduced from $14 to $8, TD Cowen Downgraded its rating from Outperform to Market Perform for QuantumScape Corporation (NYSE: QS).
In other news, Holme Timothy, Chief Technology Officer sold 144,623 shares of the company’s stock on Jul 12. The stock was sold for $1,466,202 at an average price of $10.14. Upon completion of the transaction, the Chief Technology Officer now directly owns 766,495 shares in the company, valued at $6.25 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 05, Chief Development Officer Singh Mohit sold 76,700 shares of the business’s stock. A total of $658,669 was realized by selling the stock at an average price of $8.59. This leaves the insider owning 700,386 shares of the company worth $5.71 million. Insiders disposed of 3,415,584 shares of company stock worth roughly $27.84 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 $3,052,000. CANTOR FITZGERALD, L. P. invested $2,445,000 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 $1,787,000. TENZING GLOBAL MANAGEMENT, LLC acquired a new stake in QS for approximately $1,019,000. STATE OF TENNESSEE, TREASURY DEPARTMENT purchased a new stake in QS valued at around $856,000 in the second quarter. In total, there are 425 active investors with 36.70% ownership of the company’s stock.
With an opening price of $7.75 on Tuesday morning, QuantumScape Corporation (NYSE: QS) set off the trading day. 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 19.20, and a quick ratio of 19.20. The fifty day moving average price for QS is $8.51 and a two-hundred day moving average price translates $7.74 for the stock.
The latest earnings results from QuantumScape Corporation (NYSE: QS) was released for Jun, 2023. According to the Auto Parts Company, earnings per share came in at -$0.26, missing analysts’ expectations of -$0.2 by -0.06. This compares to -$0.22 EPS in the same period last year. The company reported revenue of $123.54 million for the quarter, compared to $95.87 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 28.86 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.
