M&T Bank Corp Decreases Position in QuantumScape Co. (NYSE:QS)

M&T Bank Corp cut its stake in shares of QuantumScape Co. (NYSE:QS) by 56.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,270 shares of the company’s stock after selling 25,820 shares during the period. M&T Bank Corp’s holdings in QuantumScape were worth $105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in QuantumScape during the fourth quarter valued at approximately $26,000. Blue Trust Inc. raised its holdings in shares of QuantumScape by 208.8% in the fourth quarter. Blue Trust Inc. now owns 6,738 shares of the company’s stock worth $39,000 after buying an additional 4,556 shares during the period. Empowered Funds LLC purchased a new stake in shares of QuantumScape in the fourth quarter worth approximately $53,000. Atlas Legacy Advisors LLC purchased a new stake in shares of QuantumScape in the fourth quarter worth approximately $53,000. Finally, Essex Financial Services Inc. purchased a new stake in shares of QuantumScape in the fourth quarter worth approximately $54,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Trading Up 4.9 %

QS opened at $4.36 on Friday. The stock’s fifty day moving average is $5.04 and its two-hundred day moving average is $5.26. The company has a market capitalization of $2.38 billion, a P/E ratio of -4.63 and a beta of 4.45. QuantumScape Co. has a 52 week low of $4.05 and a 52 week high of $9.52. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Analysts forecast that QuantumScape Co. will post -0.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price target on QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Hsbc Global Res upgraded QuantumScape to a “hold” rating in a report on Tuesday, November 19th. Evercore ISI reiterated a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Finally, HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective on the stock in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.06.

Insider Buying and Selling at QuantumScape

In other news, CFO Kevin Hettrich sold 36,949 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $5.06, for a total value of $186,961.94. Following the completion of the sale, the chief financial officer now owns 1,024,325 shares of the company’s stock, valued at $5,183,084.50. This trade represents a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mohit Singh sold 97,305 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total value of $607,183.20. Following the completion of the sale, the insider now directly owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. The trade was a 8.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 277,452 shares of company stock valued at $1,542,942. 12.03% of the stock is currently owned by corporate insiders.

About QuantumScape

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.