QuantumScape Corporation (NYSE:QS) shares traded -1.65% lower at $7.15 on Wall Street last session.
In accordance with the data, 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 $10.00 and a low of $2.00, we find $8.00. Given the previous closing price of $7.27, this indicates a potential upside of 10.04 percent. QS stock price is now -16.36% away from the 50-day moving average and -6.67% away from the 200-day moving average. The market capitalization of the company currently stands at $3.41B.
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It has been rated a hold by 5 analysts and a buy by 0. Brokers who have rated the stock have averaged $7.00 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, Hettrich Kevin, Chief Financial Officer sold 76,648 shares of the company’s stock on Aug 18. The stock was sold for $524,349 at an average price of $6.84. Upon completion of the transaction, the Chief Financial Officer now directly owns 604,204 shares in the company, valued at $4.32 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 14, Director Straubel Jeffrey B sold 69,321 shares of the business’s stock. A total of $505,932 was realized by selling the stock at an average price of $7.30. This leaves the insider owning 292,644 shares of the company worth $2.09 million. Insiders disposed of 2,587,063 shares of company stock worth roughly $18.5 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 CITADEL ADVISORS LLC during the first quarter worth $7,313,000. HOLOCENE ADVISORS, LP invested $3,104,000 in shares of QS during the first quarter. In the first quarter, MILLENNIUM MANAGEMENT LLC acquired a new stake in QuantumScape Corporation valued at approximately $2,259,000. GROUP ONE TRADING, L.P. acquired a new stake in QS for approximately $2,145,000. AMUNDI purchased a new stake in QS valued at around $2,106,000 in the second quarter. In total, there are 425 active investors with 36.70% ownership of the company’s stock.
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 $8.54 and a two-hundred day moving average price translates $7.66 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.
