Gabriel Daoud, an analyst from TD Cowen, maintained the Hold rating on QuantumScape (QS – Research Report). The associated price target is $8.00.
Geoff Meacham has given his Hold rating due to a combination of factors involving both leadership changes and the company’s technical progress. QuantumScape’s co-founder Jagdeep Singh’s decision to step down as CEO, though he will remain as Chairman, and the subsequent appointment of Dr. Siva Sivaram as the new CEO, are indicative of a strategic shift in the company’s focus toward high-volume manufacturing. This executive transition coincides with broader management shakeups within the next-generation lithium battery sector. Additionally, the company’s technical update lacked substantial detail, leaving some uncertainty regarding the exact timing of key milestones.
The report also considers QuantumScape’s outlined goals for 2024, which include shipping next-gen Alpha-2 samples and ramping up Raptor production to meet their targeted run rate. While the company has made significant progress in its solid-state lithium-metal battery technology since going public, the analyst maintains a Market Perform rating until there is greater clarity on the technology readiness level (TRL) and the business model. The delivery of the B0 prototype, a critical step in the automotive qualification process, is anticipated to be a significant update, but without a concrete timeline, it tempers the immediate investment outlook, prompting the Hold rating.
See today’s best-performing stocks on TipRanks >>
Based on the recent corporate insider activity of 82 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.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
QuantumScape (QS) Company Description:
QuantumScape Corp is engaged in development of next generation solid-state lithium-metal batteries for use in electric vehicles.
Read More on QS:
