QuantumScape Sees Unusually High Options Volume (NYSE:QS)

QuantumScape Co. (NYSE:QS - Get Free Report) saw unusually large options trading on Thursday. Traders purchased 33,061 call options on the stock. This represents an increase of 64% compared to the average volume of 20,147 call options.

QuantumScape Trading Up 1.7 %

Shares of QuantumScape stock traded up $0.08 during trading on Thursday, hitting $4.99. The stock had a trading volume of 34,333,767 shares, compared to its average volume of 8,998,396. The company has a quick ratio of 14.07, a current ratio of 14.07 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.55 billion, a PE ratio of -5.35 and a beta of 4.50. QuantumScape has a 1 year low of $4.65 and a 1 year high of $10.03. The stock has a 50 day simple moving average of $5.31 and a 200 day simple moving average of $5.71.

QuantumScape (NYSE:QS - Get Free Report) 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 quarter in the prior year, the firm posted ($0.23) earnings per share. On average, research analysts expect that QuantumScape will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin Hettrich sold 58,000 shares of QuantumScape stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $5.78, for a total value of $335,240.00. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares of the company's stock, valued at approximately $6,202,067.16. The trade was a 5.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jagdeep Singh sold 192,270 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $5.99, for a total transaction of $1,151,697.30. Following the sale, the director now owns 2,590,583 shares in the company, valued at approximately $15,517,592.17. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 702,057 shares of company stock worth $3,982,909 in the last three months. 12.03% of the stock is owned by insiders.

Institutional Investors Weigh In On QuantumScape

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

Wall Street Analysts Forecast Growth

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

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.