QuantumScape Target of Unusually High Options Trading (NYSE:QS)

QuantumScape Co. (NYSE:QS) was the target of some unusual options trading on Friday. Investors purchased 40,139 call options on the stock. This is an increase of approximately 51% compared to the typical volume of 26,500 call options.

Wall Street Analysts Forecast Growth

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

QuantumScape Trading Up 6.1 %

Shares of QS stock opened at $5.02 on Friday. QuantumScape has a fifty-two week low of $4.65 and a fifty-two week high of $10.03. The stock’s fifty day moving average price is $5.17 and its two-hundred day moving average price is $5.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 14.07 and a current ratio of 14.07. The company has a market cap of $2.57 billion, a PE ratio of -5.28 and a beta of 4.50.

QuantumScape (NYSE:QS) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). During the same quarter last year, the business earned ($0.23) earnings per share. Equities analysts predict that QuantumScape will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling at QuantumScape

In related news, Director Jagdeep Singh sold 192,270 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $5.53, for a total value of $1,063,253.10. Following the completion of the sale, the director now directly owns 2,590,583 shares in the company, valued at $14,325,923.99. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of QuantumScape stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $5.04, for a total value of $65,056.32. Following the sale, the director now directly owns 241,195 shares of the company’s stock, valued at $1,215,622.80. This represents a 5.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 666,032 shares of company stock valued at $3,549,682 in the last quarter. 12.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its holdings in 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 purchasing an additional 133,000 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of QuantumScape in the second quarter valued at approximately $1,950,000. Weiss Asset Management LP bought a new position in QuantumScape in the 3rd quarter valued at approximately $828,000. Sanctuary Advisors LLC bought a new position in QuantumScape in the 2nd quarter valued at approximately $680,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in QuantumScape during the 2nd quarter worth approximately $644,000. 29.87% of the stock is currently owned by institutional investors and hedge funds.

QuantumScape Company 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.