M&T Bank Corp Purchases 26,820 Shares of QuantumScape Co. (NYSE:QS)

M&T Bank Corp boosted its holdings in shares of QuantumScape Co. (NYSE:QS) by 139.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,090 shares of the company’s stock after buying an additional 26,820 shares during the period. M&T Bank Corp’s holdings in QuantumScape were worth $265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QS. Nisa Investment Advisors LLC increased its holdings in shares of QuantumScape by 6,650.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock worth $776,000 after buying an additional 133,000 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in QuantumScape in the second quarter worth $1,950,000. Weiss Asset Management LP bought a new position in QuantumScape in the third quarter valued at $828,000. Sanctuary Advisors LLC purchased a new stake in QuantumScape during the second quarter valued at about $680,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in QuantumScape during the second quarter worth about $644,000. 29.87% of the stock is currently owned by hedge funds and other institutional investors.

QuantumScape Trading Down 6.9 %

Shares of QS opened at $4.73 on Friday. The stock has a market capitalization of $2.42 billion, a P/E ratio of -4.98 and a beta of 4.50. QuantumScape Co. has a twelve month low of $4.65 and a twelve month high of $10.03. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $5.18 and a two-hundred day simple moving average of $5.65.

QuantumScape (NYSE:QS) last posted its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period in the prior year, the firm posted ($0.23) EPS. On average, research analysts anticipate that QuantumScape Co. will post -0.99 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on QS shares. Hsbc Global Res raised QuantumScape to a “hold” rating in a report on Tuesday, November 19th. HSBC raised shares of QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research note on Tuesday, November 19th. Truist Financial reaffirmed a “hold” rating and issued a $7.00 price objective (up previously from $6.00) on shares of QuantumScape in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on shares of QuantumScape in a research report on Thursday, September 5th. They set an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, QuantumScape presently has an average rating of “Hold” and a consensus target price of $6.26.

Insider Transactions at QuantumScape

In other news, Director Jagdeep Singh sold 5,531 shares of QuantumScape stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.01, for a total transaction of $27,710.31. Following the sale, the director now owns 2,590,583 shares of the company’s stock, valued at approximately $12,978,820.83. The trade was a 0.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Hettrich sold 55,647 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $5.05, for a total transaction of $281,017.35. Following the completion of the transaction, the chief financial officer now directly owns 1,022,743 shares of the company’s stock, valued at approximately $5,164,852.15. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 666,032 shares of company stock worth $3,549,682. 12.03% of the stock is currently owned by insiders.

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.