Bank of New York Mellon Corp Has $4.78 Million Stock Position in QuantumScape Co. (NYSE:QS)

Bank of New York Mellon Corp cut its holdings in QuantumScape Co. (NYSE:QS) by 9.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 921,384 shares of the company’s stock after selling 95,972 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.18% of QuantumScape worth $4,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new position in QuantumScape in the fourth quarter valued at about $1,275,000. Geode Capital Management LLC increased its stake in shares of QuantumScape by 3.9% in the third quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock valued at $33,671,000 after buying an additional 218,743 shares during the period. Weiss Asset Management LP bought a new position in QuantumScape in the 3rd quarter valued at approximately $828,000. SG Americas Securities LLC boosted its position in QuantumScape by 127.0% during the 4th quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock worth $1,062,000 after buying an additional 114,504 shares during the period. Finally, Centiva Capital LP bought a new stake in QuantumScape during the 3rd quarter worth approximately $555,000. Institutional investors own 29.87% of the company’s stock.

Insider Activity at QuantumScape

In other news, CFO Kevin Hettrich sold 53,975 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.23, for a total value of $282,289.25. Following the transaction, the chief financial officer now owns 930,800 shares of the company’s stock, valued at approximately $4,868,084. This represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction on Friday, February 21st. The shares were sold at an average price of $5.22, for a total value of $67,379.76. Following the sale, the director now directly owns 228,287 shares of the company’s stock, valued at $1,191,658.14. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 277,452 shares of company stock worth $1,542,942. 12.03% of the stock is owned by corporate insiders.

QuantumScape Price Performance

QS opened at $4.48 on Tuesday. The firm’s fifty day moving average price is $5.00 and its two-hundred day moving average price is $5.25. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -4.76 and a beta of 4.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. QuantumScape Co. has a 1 year low of $4.05 and a 1 year high of $9.52.

QuantumScape (NYSE:QS) last released its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). As a group, analysts anticipate that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QS has been the subject of several recent research reports. Evercore ISI reissued a “hold” rating on shares of QuantumScape in a research note on Tuesday, February 25th. Truist Financial decreased their target price on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Hsbc Global Res upgraded shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Finally, HSBC upgraded shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price objective for the company in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.06.

QuantumScape Company Profile

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.