Investors Buy High Volume of Call Options on QuantumScape (NYSE:QS)

QuantumScape Co. (NYSE:QS) was the target of some unusual options trading on Friday. Stock traders bought 40,139 call options on the company. This is an increase of 51% compared to the average daily volume of 26,500 call options.

QuantumScape Stock Up 6.1 %

QuantumScape stock opened at $5.02 on Friday. QuantumScape has a 1-year low of $4.65 and a 1-year high of $10.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 14.07 and a quick ratio of 14.07. The stock has a market cap of $2.57 billion, a PE ratio of -5.28 and a beta of 4.50. The stock’s fifty day moving average is $5.17 and its two-hundred day moving average is $5.64.

QuantumScape (NYSE:QS) last released its quarterly 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 in the previous year, the firm earned ($0.23) earnings per share. On average, sell-side analysts expect that QuantumScape will post -0.99 EPS for the current fiscal year.

Insider Activity at QuantumScape

In related news, Director Jagdeep Singh sold 192,270 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.53, for a total transaction of $1,063,253.10. Following the transaction, the director now directly owns 2,590,583 shares of the company’s stock, valued at approximately $14,325,923.99. This trade represents a 6.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael O. Mccarthy III sold 27,305 shares of QuantumScape stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $5.07, for a total value of $138,436.35. Following the completion of the transaction, the insider now directly owns 1,129,167 shares in the company, valued at $5,724,876.69. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 666,032 shares of company stock valued at $3,549,682. 12.03% of the stock is owned by insiders.

Institutional Investors Weigh In On QuantumScape

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its stake in QuantumScape by 79.9% in the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after acquiring an additional 2,148 shares during the period. CWM LLC raised its stake in shares of QuantumScape by 56.0% in the 2nd quarter. CWM LLC now owns 7,124 shares of the company’s stock valued at $35,000 after purchasing an additional 2,556 shares in the last quarter. Farther Finance Advisors LLC raised its stake in QuantumScape by 32.4% during the third quarter. Farther Finance Advisors LLC now owns 13,521 shares of the company’s stock worth $78,000 after acquiring an additional 3,310 shares during the period. The Manufacturers Life Insurance Company raised its stake in QuantumScape by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 83,867 shares of the company’s stock worth $413,000 after acquiring an additional 3,527 shares during the period. Finally, International Assets Investment Management LLC grew its position in QuantumScape by 475.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock worth $29,000 after purchasing an additional 4,228 shares during the last quarter. 29.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.