Bank of New York Mellon Corp Sells 95,972 Shares of QuantumScape Co. (NYSE:QS)

Bank of New York Mellon Corp lessened its holdings in QuantumScape Co. (NYSE:QS) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 921,384 shares of the company’s stock after selling 95,972 shares during the quarter. Bank of New York Mellon Corp’s holdings in QuantumScape were worth $4,782,000 as of its most recent filing with the Securities & Exchange Commission.

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

QuantumScape Price Performance

Shares of QS opened at $4.48 on Tuesday. The firm’s 50-day simple moving average is $5.00 and its two-hundred day simple moving average is $5.25. QuantumScape Co. has a fifty-two week low of $4.05 and a fifty-two week high of $9.52. The stock has a market cap of $2.45 billion, a PE ratio of -4.76 and a beta of 4.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07.

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

Insiders Place Their Bets

In related news, CFO Kevin Hettrich sold 53,975 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $5.23, for a total value of $282,289.25. Following the transaction, the chief financial officer now directly owns 930,800 shares of the company’s stock, valued at approximately $4,868,084. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the sale, the insider now directly owns 1,092,020 shares of the company’s stock, valued at $6,814,204.80. This represents a 8.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 277,452 shares of company stock valued at $1,542,942. Company insiders own 12.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on QS shares. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 target price on the stock in a research note on Tuesday, November 19th. Evercore ISI restated a “hold” rating on shares of QuantumScape in a report on Tuesday, February 25th. Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a research report on Tuesday, November 19th. Finally, Truist Financial reduced their price target on shares of QuantumScape from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, QuantumScape currently has a consensus rating of “Hold” and an average price target of $6.06.

QuantumScape 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.