QuantumScape (QS) Receives a Buy from Evercore ISI

In a report released today, Chris McNally from Evercore ISI maintained a Buy rating on QuantumScape, with a price target of $8.00. The company’s shares closed last Friday at $16.82.

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According to TipRanks, McNally is a 3-star analyst with an average return of 4.8% and a 59.79% success rate. McNally covers the Consumer Cyclical sector, focusing on stocks such as Autoliv, QuantumScape, and Ford Motor.

QuantumScape has an analyst consensus of Hold, with a price target consensus of $9.13.

Based on QuantumScape’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $105.82 million. In comparison, last year the company had a GAAP net loss of $119.57 million

Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of QS in relation to earlier this year. Last month, Michael O. McCarthy, the CLO of QS sold 38,035.00 shares for a total of $347,259.55.