QuantumScape Co. (NYSE:QS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of QuantumScape Co. (NYSE:QS - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 921,384 shares of the company's stock after selling 95,972 shares during the quarter. Bank of New York Mellon Corp owned 0.18% of QuantumScape worth $4,782,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of QuantumScape in the fourth quarter valued at approximately $1,275,000. Birchcreek Wealth Management LLC raised its position in QuantumScape by 13.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 22,583 shares of the company's stock valued at $117,000 after purchasing an additional 2,700 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of QuantumScape by 2.0% in the 4th quarter. Handelsbanken Fonder AB now owns 114,700 shares of the company's stock worth $595,000 after buying an additional 2,300 shares during the period. Ieq Capital LLC grew its position in shares of QuantumScape by 2.6% during the 4th quarter. Ieq Capital LLC now owns 87,370 shares of the company's stock worth $453,000 after buying an additional 2,200 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of QuantumScape by 47.3% during the fourth quarter. Private Advisor Group LLC now owns 61,356 shares of the company's stock valued at $318,000 after buying an additional 19,704 shares during the period. 29.87% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at QuantumScape

In other QuantumScape news, insider Michael O. Mccarthy III sold 76,315 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $5.23, for a total transaction of $399,127.45. Following the completion of the transaction, the insider now directly owns 1,010,523 shares of the company's stock, valued at approximately $5,285,035.29. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mohit Singh sold 97,305 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $6.24, for a total transaction of $607,183.20. Following the completion of the sale, the insider now owns 1,092,020 shares in the company, 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 quarter, insiders have sold 277,452 shares of company stock worth $1,542,942. 12.03% of the stock is owned by corporate insiders.

QuantumScape Stock Up 2.0 %

Shares of NYSE:QS traded up $0.09 during trading on Friday, reaching $4.54. The stock had a trading volume of 6,450,506 shares, compared to its average volume of 10,373,997. The firm's 50-day simple moving average is $4.91 and its 200 day simple moving average is $5.23. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape Co. has a one year low of $4.05 and a one year high of $9.52. The company has a market capitalization of $2.48 billion, a P/E ratio of -4.83 and a beta of 4.45.

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

Analyst Upgrades and Downgrades

QS has been the subject of a number of research reports. Truist Financial lowered their price objective on shares of QuantumScape from $7.00 to $6.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Evercore ISI reiterated a "hold" rating on shares of QuantumScape in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, QuantumScape presently has a consensus rating of "Hold" and an average target price of $6.06.

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.