Bank of New York Mellon Corp Takes Position in QuantumScape Corporation $QS

Key Points

• Bank of New York Mellon initiated a position of 1.27 million QuantumScape shares worth approximately $9.6 million, while institutional investors collectively owned 29.87% of the company.
• Analyst sentiment remains cautious: TD Cowen cut its price target to $6 and maintained a “hold” rating; the consensus rating is “Reduce,” with a $9.47 target price.
• QuantumScape shares opened at $5.45, near their 52-week low, and the company reported a quarterly loss of $0.16 per share—better than estimates of a $0.18 loss. Insiders have sold more than 211,000 shares worth about $1.47 million over the past 90 days.

Bank of New York Mellon Corp bought a new position in QuantumScape Corporation (NYSE:QS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,272,329 shares of the company's stock, valued at approximately $9,619,000. Bank of New York Mellon Corp owned about 0.21% of QuantumScape at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QS. Russell Investments Group Ltd. boosted its holdings in QuantumScape by 685.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company's stock valued at $25,000 after acquiring an additional 3,311 shares during the period. Danske Bank A S purchased a new position in QuantumScape in the 4th quarter worth about $48,000. Vestor Capital LLC lifted its holdings in QuantumScape by 255.2% during the 1st quarter. Vestor Capital LLC now owns 8,000 shares of the company's stock valued at $51,000 after buying an additional 5,748 shares in the last quarter. Comerica Bank boosted its position in QuantumScape by 27,400.0% in the 4th quarter. Comerica Bank now owns 5,500 shares of the company's stock valued at $57,000 after buying an additional 5,480 shares during the period. Finally, CWM LLC increased its position in shares of QuantumScape by 126.8% during the fourth quarter. CWM LLC now owns 5,954 shares of the company's stock worth $62,000 after acquiring an additional 3,329 shares during the period. 29.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, TD Cowen reduced their price objective on QuantumScape from $8.00 to $6.00 and set a "hold" rating on the stock in a report on Friday, July 24th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, QuantumScape currently has a consensus rating of "Reduce" and a consensus target price of $9.47.

QuantumScape Trading Down 0.4%

Shares of NYSE QS opened at $5.45 on Thursday. QuantumScape Corporation has a 1-year low of $4.77 and a 1-year high of $19.07. The business has a fifty day moving average price of $6.08 and a 200 day moving average price of $6.87. The stock has a market capitalization of $3.37 billion, a P/E ratio of -6.73 and a beta of 2.68. The company has a debt-to-equity ratio of 0.02, a current ratio of 21.14 and a quick ratio of 21.14.

QuantumScape (NYSE:QS - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. During the same quarter in the prior year, the company earned ($0.20) earnings per share. QuantumScape's revenue was up .0% on a year-over-year basis. Equities research analysts expect that QuantumScape Corporation will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuantumScape news, CFO Kevin Hettrich sold 9,800 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total value of $71,344.00. Following the completion of the sale, the chief financial officer directly owned 1,816,257 shares in the company, valued at approximately $13,222,350.96. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Timothy Holme sold 102,991 shares of the firm's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $7.28, for a total value of $749,774.48. Following the completion of the sale, the chief technology officer directly owned 1,712,506 shares of the company's stock, valued at approximately $12,467,043.68. This represents a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 211,444 shares of company stock worth $1,465,971. Insiders own 3.93% of the company's stock.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company's core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape's product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.

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