Traders Purchase Large Volume of Call Options on QuantumScape (NYSE:QS)

QuantumScape Co. (NYSE:QS) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 33,061 call options on the stock. This is an increase of approximately 64% compared to the typical volume of 20,147 call options.

QuantumScape Trading Up 5.5 %

QS traded up $0.27 during trading on Thursday, hitting $5.17. The company’s stock had a trading volume of 14,268,534 shares, compared to its average volume of 8,899,781. The stock’s fifty day moving average price is $5.32 and its 200-day moving average price is $5.71. QuantumScape has a twelve month low of $4.65 and a twelve month high of $10.03. The firm has a market capitalization of $2.65 billion, a P/E ratio of -5.57 and a beta of 4.50. 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 (NYSE:QS) last released its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period last year, the firm earned ($0.23) earnings per share. Analysts anticipate that QuantumScape will post -0.99 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other QuantumScape news, Director Jagdeep Singh sold 5,531 shares of the 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 completion of the transaction, the director now owns 2,590,583 shares of the company’s stock, valued at $12,978,820.83. This trade represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Fritz Prinz sold 12,908 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $5.04, for a total value of $65,056.32. Following the transaction, the director now owns 241,195 shares of the company’s stock, valued at $1,215,622.80. This trade represents a 5.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 702,057 shares of company stock valued at $3,982,909 over the last 90 days. Insiders own 12.03% of the company’s stock.

Institutional Investors Weigh In On QuantumScape

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC raised its stake in shares of QuantumScape by 28.2% in the third quarter. Sanctuary Advisors LLC now owns 161,781 shares of the company’s stock worth $930,000 after purchasing an additional 35,579 shares during the last quarter. Virtu Financial LLC bought a new position in shares of QuantumScape during the third quarter worth $235,000. Barclays PLC grew its position in shares of QuantumScape by 326.5% during the third quarter. Barclays PLC now owns 104,333 shares of the company’s stock valued at $599,000 after purchasing an additional 79,871 shares in the last quarter. Geode Capital Management LLC increased its stake in QuantumScape by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 5,853,958 shares of the company’s stock worth $33,671,000 after acquiring an additional 218,743 shares during the last quarter. Finally, M&T Bank Corp raised its stake in QuantumScape by 139.2% during the third quarter. M&T Bank Corp now owns 46,090 shares of the company’s stock valued at $265,000 after purchasing an additional 26,820 shares in the last quarter. Hedge funds and other institutional investors own 29.87% of the company’s stock.

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.