M&T Bank Corp Trims Stock Holdings in QuantumScape Co. (NYSE:QS)

M&T Bank Corp decreased its position in QuantumScape Co. (NYSE:QS) by 56.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in shares of QuantumScape during the 4th quarter valued at about $1,275,000. Geode Capital Management LLC raised its stake in shares of QuantumScape by 3.9% during the 3rd 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 last quarter. Weiss Asset Management LP purchased a new position in shares of QuantumScape during the 3rd quarter valued at about $828,000. SG Americas Securities LLC raised its stake in shares of QuantumScape by 127.0% during the 4th quarter. SG Americas Securities LLC now owns 204,630 shares of the company’s stock valued at $1,062,000 after buying an additional 114,504 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of QuantumScape by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,331,966 shares of the company’s stock valued at $12,103,000 after buying an additional 104,894 shares during the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, insider Mohit Singh sold 97,305 shares of QuantumScape stock in a transaction dated Friday, December 27th. The stock was 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 in the company, valued at approximately $6,814,204.80. The trade was a 8.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 36,949 shares of QuantumScape stock in a transaction dated 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 in the company, valued at approximately $5,183,084.50. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 277,452 shares of company stock worth $1,542,942. Insiders own 12.03% of the company’s stock.

QuantumScape Price Performance

Shares of QuantumScape stock opened at $4.36 on Friday. 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 Co. has a twelve month low of $4.05 and a twelve month high of $9.52. The business has a 50-day moving average price of $5.04 and a 200 day moving average price of $5.26. The firm has a market cap of $2.38 billion, a PE ratio of -4.63 and a beta of 4.45.

QuantumScape (NYSE:QS) last posted its quarterly earnings data 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). Sell-side analysts predict that QuantumScape Co. will post -0.82 earnings per share for the current fiscal year.

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.