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

QuantumScape Co. (NYSE:QS) was the target of unusually large options trading activity on Wednesday. Traders acquired 38,159 call options on the company. This is an increase of 56% compared to the typical daily volume of 24,445 call options.

Insider Transactions at QuantumScape

In related news, insider Michael O. Mccarthy III sold 106,084 shares of QuantumScape stock in a transaction on Friday, September 13th. The shares were sold at an average price of $5.90, for a total value of $625,895.60. Following the completion of the sale, the insider now owns 1,181,884 shares of the company’s stock, valued at approximately $6,973,115.60. The trade was a 8.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jagdeep Singh sold 5,531 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $5.01, for a total transaction of $27,710.31. Following the transaction, the director now directly owns 2,590,583 shares in the company, valued at $12,978,820.83. The trade was a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 606,197 shares of company stock valued at $3,498,399. 12.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its position in shares of QuantumScape by 6,650.0% during the third 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 bought a new position in QuantumScape in the 2nd quarter worth approximately $1,950,000. Sanctuary Advisors LLC acquired a new position in QuantumScape during the 2nd quarter worth $680,000. Susquehanna Fundamental Investments LLC bought a new position in QuantumScape in the 2nd quarter valued at $644,000. Finally, American Century Companies Inc. increased its stake in shares of QuantumScape by 880.6% in the 2nd quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after buying an additional 316,361 shares during the period. 29.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

QuantumScape Price Performance

Shares of NYSE:QS opened at $5.06 on Friday. The firm has a market capitalization of $2.59 billion, a PE ratio of -5.32 and a beta of 4.60. The company has a current ratio of 14.07, a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. QuantumScape has a 1-year low of $4.65 and a 1-year high of $10.03. The business’s 50 day moving average is $5.43 and its 200-day moving average is $5.74.

QuantumScape (NYSE:QS) last issued its earnings results 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 posted ($0.23) EPS. Sell-side analysts predict that QuantumScape will post -0.97 earnings per share for the current year.

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.