QuantumScape Sees Unusually High Options Volume (NYSE:QS)

QuantumScape Co. (NYSE:QS) was the recipient of unusually large options trading on Monday. Stock investors bought 104,382 call options on the company. This represents an increase of 210% compared to the average daily volume of 33,628 call options.

Analysts Set New Price Targets

QS has been the subject of a number of research analyst reports. Truist Financial reiterated a “hold” rating and set a $7.00 price target (up from $6.00) on shares of QuantumScape in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price target on shares of QuantumScape in a report on Tuesday, September 10th. HSBC raised QuantumScape from a “reduce” rating to a “hold” rating and set a $5.30 price target on the stock in a research note on Tuesday, November 19th. Finally, Hsbc Global Res raised shares of QuantumScape to a “hold” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.26.

Insider Buying and Selling

In related news, insider Mohit Singh sold 97,305 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $6.24, for a total value of $607,183.20. Following the sale, the insider now directly owns 1,092,020 shares in the company, valued at $6,814,204.80. The trade was a 8.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Hettrich sold 34,607 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the sale, the chief financial officer now owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. The trade was a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 571,067 shares of company stock worth $3,093,612 in the last three months. 12.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC boosted its position in shares of QuantumScape by 79.9% during the 3rd quarter. Signaturefd LLC now owns 4,838 shares of the company’s stock worth $28,000 after purchasing an additional 2,148 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of QuantumScape by 475.1% during the third quarter. International Assets Investment Management LLC now owns 5,118 shares of the company’s stock valued at $29,000 after buying an additional 4,228 shares during the last quarter. Centaurus Financial Inc. bought a new position in QuantumScape in the 2nd quarter valued at about $52,000. Atom Investors LP acquired a new position in QuantumScape during the 3rd quarter valued at about $60,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of QuantumScape in the second quarter worth approximately $61,000. 29.87% of the stock is owned by institutional investors and hedge funds.

QuantumScape Stock Performance

NYSE QS opened at $6.59 on Tuesday. QuantumScape has a fifty-two week low of $4.65 and a fifty-two week high of $9.66. The stock has a market cap of $3.38 billion, a PE ratio of -6.94 and a beta of 4.46. 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 firm’s fifty day moving average price is $5.18 and its two-hundred day moving average price is $5.67.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same quarter in the previous year, the business earned ($0.23) earnings per share. On average, equities analysts expect that QuantumScape will post -0.99 EPS for the current fiscal year.

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.